Will Recent News Launch Apple Stock Higher?
T = Trends for a Stock’s Movement
Apple designs, manufactures, and markets mobile communication and media devices, personal computers, portable digital music players, and a variety of related software, services, peripherals, networking solutions, third-party digital content, and applications. The company’s products and services include the iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and further accessory, service, and support offerings. Apple also delivers digital content and applications through its iTunes, App, iBook, and Mac App stores.
Apple’s iPad share in China took a nosedive in the second quarter, according to new data from IDC. The iPad accounted for 28 percent of shipments to China in the quarter, down from 49 percent a year ago. Cheaper tablets built by Samsung and others running on Google’s (NASDAQ:GOOG) Android operating system have eaten away at Apple’s market share in China. A similar phenomenon has already been seen with smartphones, as Android-based phones have cut down on the iPhone’s market share.
Apple has grabbed the attention of activist investor Carl Icahn, who revealed yesterday via Twitter that he has a $1.5 billion stake in the company. Icahn said in an interview cited by the Wall Street Journal that he believes Apple’s stock is highly undervalued and the company should begin a share buyback as soon as possible. Icahn believes the stock is worth $625 a share.