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Apple Stock Rises Above $100 Per Share For First Time in Six Weeks

Apple shares rose above $100 in intraday trading today for the first time since June 6, just weeks after the stock hit its latest bottom around the $92 mark.

AAPL is up over 1 percent on the day at the time of publishing, contributing to a slight rise in the Dow Jones stock index on the day.

Beyond a short-lived rebound in March and April, Apple shares had steadily declined since the second half of 2015. Some investors have expressed concerns over Apple's recent slowdown, including its first quarterly revenue drop since 2003 and first-ever drop in iPhone sales last quarter.

AAPL is still trading for markedly lower than its year-ago price of around $132, but some analysts believe the stock is undervalued and due for a breakout.

A few weeks ago, analyst Brian White of Wall Street brokerage firm Drexel Hamilton listed AAPL as a "buy" based on a target price of $185. Other firms like Goldman Sachs and S&P Capital IQ, a division of McGraw Hill Financial, have set lower price targets of between $120 and $130 in recent months.

AAPL-Q3
Apple will release its fiscal third quarter earnings results on Tuesday, July 26 at 1:30 p.m. Pacific Time, with a conference call to discuss the report to follow at 2:00 p.m. Pacific Time. The third quarter will likely mark a year-over-year decline, based on Apple's guidance of between $41 billion and $43 billion in revenue.

Tag: AAPL

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Top Rated Comments

69Mustang Avatar
128 months ago
Fairly or unfairly, AAPL is really never positively affected by what Apple does regarding the sale of their products. AAPL is negatively affected by the downward trend in sales. Record sales quarter? AAPL flat. Another record sales quarter? AAPL flat. Flat sales quarter? AAPL down. Negative sales quarter? AAPL down. Personally, I think anyone tying their position on AAPL to the company's sales performance should probably not be playing in the market. Imo, AAPL and Apple have never really had much in common.
Score: 5 Votes (Like | Disagree)
DakotaGuy Avatar
128 months ago
At some point Apple is going to need to find another big hit, because so much rests on one product line right now. The Macs have been neglected, the iPad continues to steadily drop in sales and the watch is nothing more then a hobby at this point.

Sure Apple's rich and making tons of money, but if the iPhone ever falls from grace things will look A LOT different financially for Apple.
Score: 5 Votes (Like | Disagree)
Rogifan Avatar
128 months ago
Typical run up before earnings; the stock will get hammered the day after earnings.
Score: 4 Votes (Like | Disagree)
Chupa Chupa Avatar
128 months ago
At some point Apple is going to need to find another big hit, because so much rests on one product line right now. The Macs have been neglected, the iPad continues to steadily drop in sales and the watch is nothing more then a hobby at this point.

Sure Apple's rich and making tons of money, but if the iPhone ever falls from grace things will look A LOT different financially for Apple.
I think that era has sailed. Increasingly TC and co seem focused on aggregate revenue, esp. from services, rather than thinking big. Of course, I'm also not sure TC can think big given his resume -- he's a bean counter at heart, a PC bean counter. Of course there is the pie-in-the-sky stuff like iCar, but seems like $ down a rat hole to me given the competition.

Case in point, Apple had all the elements of voice controlled, geofenced home automation well before most anyone else in the industry. Siri, ATV, OS X, iOS, hundreds of millions of iPhones in the wild. If TC had put Apple's full concentration on both homekit's backend and creating reference products to make it understandable to average people it could have been a huge "thing" to push iDevices, ATV, and also create a new revenue stream in HomeKit devices.

Instead squandered its resources and lead gave it to Amazon, Samsung, and Google. It's amazing to me how fast consumers attached themselves to Alexa. That should have been Apple's market w/ Siri.
Score: 4 Votes (Like | Disagree)
Chupa Chupa Avatar
128 months ago
Fantastic. Now it's only down about $32 for the past 52 weeks. But positive it didn't break 90.
Score: 4 Votes (Like | Disagree)
Michael Goff Avatar
128 months ago
"Stop talking about, being concerned, and speculating on what the stock value does on a day to day basis. Just go back to focusing on the products."

- Zombie Steve Jobs talking to 1) Tim Cook and 2) most MacRumors posters
Or an actual quote:

Jobs: We've been having record quarter after record quarter, so we're very pleased with how the company's doing. And, uh, you know, Wall Street, I've never been able to figure out Wall Street. But someone once told me manage the top line, which is, your strategy, your talented people, and your execution, and the bottom line will take care of itself. And I've always found that to be the case. So, we're turning in record quarter after record quarter, and Wall Street eventually comes out in the right place.
Score: 3 Votes (Like | Disagree)