Apple announced a significant change in its corporate bylaws that will make it easier for shareholders to nominate candidates for Apple's board of directors. Apple filed amended bylaws with the Securities and Exchange Commission (SEC) giving shareholders "proxy access" for a limited number of board positions.
Concerns about soft demand for iPhone has reared its perennial head, and Apple's stock has taken a beating as a consequence. Shares in $AAPL ended Tuesday at US$110.49 per share, down $1.99 (-1.77 percent), on heavy volume of 53 million shares trading hands.
The holidays are being good to Apple, according to Global Equities analyst Trip Chowdhry. In a research note to clients, Mr. Chowdhry wrote, "Apple probably had the strongest Black Friday sales in its entire history." Of course, that's the same Trip Chowdry who said in 2014 that Apple would disappear if it didn't release the iWatch in 60 days. Bryan Chaffin explains.
Goldman Sachs goosed Apple's stock on Wednesday by placing it on the investment banking firm's "Conviction Buy List." Analyst Simona Jankowski told Wall Street that Apple should be valued more as a services company, rather than a hardware company, and issued a 12-month target of US$163 per share.
Apple delivered a strong message to Wall Street on Tuesday: your concerns over our business in China are much ado about nothing. During the company's quarterly conference call with analysts, Apple CEO Tim Cook took several opportunities to stress how robust sales are in China, and to say he believes it will become Apple's top market.
Apple posted record revenue and record earnings for the September quarter on Tuesday, beating expectations. The company posted revenue of $51.5 billion, well ahead of last year's $42.1 billion; the company also posted earnings of $11.1 billion, or $1.96 in earnings per share (EPS). Last year's profit was $8.5 billion with EPS was $1.42.
Shares of Apple Inc. dropped more than 3 percent on Monday, one day ahead of the company's fiscal 4th quarter earnings report. One of the primary sources of concern for Wall Street was China, a recurring theme for Apple, though the company has turned in excellent results in China every time the alarm bell has sounded.
Apple's 2015 fourth fiscal quarter earnings conference call is scheduled for Tuesday, October 27th at 5 PM eastern time. Investors and analysts will be paying close attention to the numbers Apple announces because the quarter included the first two days of iPhone 6s and iPhone 6s Plus sales.
Apple will most likely show off new iPhone and iPad models, along with a new Apple TV, at its September 9 media event, but Wells Fargo analyst Maynard Um thinks it may not live up to expectations. He sees a lack of a product line that brings in significant revenue like the iPhone as an issue, and that's not going to change next Wednesday.
Wells Fargo analyst Maynard Um upgraded Apple's stock rating to Outperform on Tuesday following Monday's rollercoaster market correction. He thinks Apple's stock dip yesterday was an overcorrection and that investors have a new buying window.
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Some days the stock market is a crazy roller coaster ride—like yesterday. Today, Wells Fargo thinks Apple is the ride to be on.
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