Apple Recap: Surprising Price Target Cuts, Shifting Priorities, Happy at Home
Here’s a look at everything important swirling around Apple’s world:
Apple (NASDAQ:AAPL) shares recouped early losses on Tuesday, rising just under 1 percent on the day to close at $504.77, in anticipation of its earnings release after hours on Wednesday. Reports from analysts were slightly conflicting on the day, so here is a cheat sheet to the top stories related to the company:
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Happy at Home
Apple may have gotten a string of bad news about its products recently, but according to a new survey, its iOS platform continues to be the market leader in the U.S. and is stealing users away from rivals Google (NASDAQ:GOOG) and Research In Motion (NASDAQ:RIMM). According to Kantar Worldpanel ComTech data, Apple’s iOS accounted for 51.2 percent of all U.S. smartphone sales for the 12-week period ending December 23, 2012. This represented a growth of more than 7 percent from the 44.9 percent over the same period in 2011. Meanwhile, Android’s share fell from 44.8 percent in 2011 to 44.2 percent, while RIM suffered an even bigger decline — falling from 6.1 percent of smartphone sales to 1.1 percent.
According to the research firm, Apple’s strategy of annual iPhone upgrades alongside price cuts for its previous-generation versions contribute to its growth and help it extend its reach to low-tier markets. (Read more)