Tracking Apple’s Trend: Is $600 the Next Step?

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Source: Thinkstock

Apple (NASDAQ:AAPL) shares achieved a one-year high today of $595.75 on Monday. Apple’s share price has ranged from $388.87 to $595.75 over the past fifty-two weeks. Apple’s record one-year high may have been sparked by a recent report from market research firm Kantar Worldpanel ComTech that showed that the iPhone maker had boosted its market share in several key overseas markets during the March quarter. Apple’s smartphone market share in Australia jumped by two points year-over-year to 33.1 percent in the first-quarter of 2014. In five major European markets — France, Germany, Italy, Spain, and the UK — Apple’s share of the smartphone market climbed 0.1 percent higher to 19.2 percent. Apple’s growth in Spain was especially strong where the company boosted its market share by 4.5 percentage points to 7.6 percent.

Meanwhile, Apple continued its dominance of Japan’s smartphone market by growing its share by 8.6 percentage points to 57.6 percent in the first-quarter of 2014. Kantar Worldpanel ComTech global strategic insight director Dominic Sunnebo noted that Apple’s iPhone accounted for over forty percent of sales at NTT DoCoMo (NYSE:DCM), Japan’s largest carrier.

Although the positive Kantar Worldpanel ComTech report on Apple’s international growth may have ignited today’s 52-week record high, the Cupertino-based company’s recent quarterly earnings report appears to be driving the overall upward trend. Last week, Apple reported quarterly revenue of $45.6 billion and earnings per share of $11.62, handily beating consensus expectations of $43.7 billion revenue and $10.19 EPS.

More Articles About:

To contact the reporter on this story: To contact the editor responsible for this story:

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business