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Apple Inc. stock hits an all-time high

20 Aug 2014 News
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Apple Inc. stock hits an all-time high

With all the optimism surrounding the iPhone 6 and possible smart smartwatch, Apple Inc.’s stock closed at an all-time high on August 19, beating its 2012 record. Investors are looking forward to larger iPhone screens and a smartwatch that could make a huge difference in revenue growth. Apple’s stock rose 14 percent to close at $100.53; beating the previous record on September 19, 2013, just before the iPhone 5 went on sale. 

The iPhone 6, which is being announced on September 9, is supposedly going to have a 4.7-inch screen and a second possible model with a 5.5-inch screen. As for the smartphone, Apple has been rumored to be working on one for quite a while, and Katy Huberty from Morgan Stanley says the company could sell up to 60 million of the devices in the very first year. That could add up to $9 billion in revenue for 2015. With that said, there hasn’t been any official comments on either larger iPhones or smartwatch; however, Tim Cook has promised to offer a new product category in 2014.

On top of all these new products coming out, Cook has also been more supportive of the company’s giving back to shareholders, such as the program right now that is in the process of giving back $130 billion through dividends and buybacks. He also has supported acquisitions more than Steve Jobs in acquisitions; Apple recently spent $3 billion to buy Beats Electronics LLC.

 
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rebecca

Rebecca, a former police officer, is an experienced writer and editor. She has used all kinds of different tech and prefers Apple products and apps. Her areas of expertise are in all things Apple, health and fitness, the Paleo lifestyle, and legal topics.