Apple's stock price closes with massive profits, surpassing expectations and analyst predictions.
With Apple stocks reaching new heights, investors wonder if this upward trend would hold until the iPhone 13 release, which is suspected to come out some time in September.
The tech giant started with slow sales for the first half of 2021. Back in January, Apple (AAPL) traded at $131.01. Values spiked briefly in April and traded at $134.72. However, after its dip to $123.54 in June, Apple stock saw a steady rise and was seeling at $146.77 by July 26, according to Market Watch
Apple Stock Price Sees Massive Surge
The biggest factor to Apple's success is the digital lifestyle consumers adopted as the pandemic continues. As reported by Investors, Apple's iPhone sales rose by 49.8 percent for $39.6 billion in earnings during the period. Mac computers also increased 16.3 percent for $8.2 billion. iPad tablet boosted 11.9 percent and $7.4 billion in revenue.
Apple's Wearables, Home, and Accessories unit also delivered $8.8 billion in revenue, up to 36 percent.
The Apple stock price and share on sales totaled $81.4 billion in the quarter ending June 26. On a year-over-year basis, Apple earnings consistently jumped by 100 percent while its sales climbed 36 percent.
This successful sale came with some challenges for the company. Most tech industries still struggle to catch up production with the global chip shortage. Over these last few months, Apple warned its consumers many times that Mac and iPad supplies were delayed due to these chips' low supply. However, Apple customers remained ecstatic with the new and powerful M1 chip installed in redesigned iMac and new iPad Pro units.
Per a Cnet report, Apple CFO Luca Maestri said, "This exceptional level of sales success has been driven by the very enthusiastic customer response to our new Macs powered by the M1 chip, which we most recently brought to our newly redesigned iMac." He also added that "we also started shipping our new iPad Pro powered by the M1 chip, and customer response has been outstanding."
Will Apple Stock Increase When iPhone 13 Releases?
The most surprising development for Apple's successful sale is that the market remains intense months before the suspected iPhone 13 release date.
Typically, Apple struggled to grow iPhone sales by Q1 or Q2 since customers hold their money and interest for the next iteration of the iPhone series. With many leaks and rumors surrounding the iPhone 13, customers and markets wait with anticipation for its official release.
However, contrary to expectations and as proven by the numbers, the iPhone 12 Pro and iPhone 12 Pro Max sold well in this quarter.
According to Investors, analyst Katy Huberty suspects bigger sales for the iPhone 13. She predicts Apple stock to rise to a $166 trade price.
Katy Huberty said, "We are buyers heading into the iPhone 13 launch in September, where we see the combination of mature replacement cycles, increasing 5G adoption, improving retail store traffic, longer battery life and camera quality, and share gains against Huawei as drivers of iPhone outperformance relative to past S-cycles (modest handset iPhone improvements that occur every other year)."
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