Not long ago, Apple Inc. was facing bleak times on the US stock market as falling revenue called upon analysts to question profit and revenue estimates for the technology giant. That was about 4 months back when Apple stock breached $100 mark and fell all the way down to lower nineties. Analysts remember that Apple stock was being dumped on an everyday basis and even the most committed investors were beginning to raise doubts. It was on a bright sunny day when Warren Buffet’s Berkshire Hathway came along and picked boatloads of Apple’s stocks on the US stock market. That seemed like the turning point as the stock staged a smart recovery over the next few weeks to rise above the barrier of $100 and trade in a narrow range for weeks to come.
Early trade data suggests that Apple’s latest launch of iPhone 7 has been pretty well received and feedback from the retail stores in the US suggests that some sort of record sales may be expected or are in the offing. This has catapulted the Apple stock to rise and scale up by over 10 percent this week. As of now it is trading upwards of $111 on reports of robust sales numbers in the offing for the company.
Apple’s iPhone 7 comes with a whole new set of features with augmented camera. For more details about the product features, check out the Apple’s introductory sales video about the iPhone 7.