Apple stocks climb on 5G iphone launch

1 min


42
8 shares, 42 points

Apple stocks climb on 5G iphone launch

APPLE’s stock was up significantly in US trading Oct 12 ahead of a much-anticipated event where the tech giant is expected to unveil its 5G-capable iPhone 12 line-up.

The company is the most expensive on Wall Street with a value of US$ 2.03 billion as of the close of Friday trading, and its share value on Monday was up 4.8 percent at US$ 122.59 around 1550 GMT.

Analysts expect Apple to introduce a selection of iPhone 12 models in multiple sizes, with some shipping earlier than others due to the toll the pandemic has taken on the company’s supply chain.

The new model will be particularly notable for being tailored for the super-fasted 5G telecome networks taking root around the world.

Some Apple rivals have already produced 5G models, and China is far ahead of the US when it comes to the new-generation networks.

Wedbush Securities called the new iPhone “Apple’s most important product cycle since the iPhone 6 in 2014,“ with demand by Chinese consumers to upgrade to the phone expected to be strong.

“Cook & Co. have the stage set for a supercycle 5G product release which should drive shares further, in our opinion,“ Wedbush said in a note, referring to chief executive Tim Cook.

“Although the soft macro and COVID backdrop will clearly dent some demand, we believe the underlying growth drivers for iPhone 12 success are unparalleled.”- AFP


Like it? Share with your friends!

42
8 shares, 42 points

What's Your Reaction?

hate hate
14
hate
confused confused
6
confused
fail fail
20
fail
fun fun
18
fun
geeky geeky
16
geeky
love love
10
love
lol lol
12
lol
omg omg
6
omg
win win
20
win

Read exclusive latest news on entertainment, music, gaming and more topics with unprecedented coverage from around the UK and US.

0 Comments

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.