After another lackluster week, Apple stock (NASDAQ:AAPL) opened the Tuesday after President's Day at $94.65. Share prices made a steady climb Tuesday into Wednesday, peaking at $98.25. Thursday brought a slide until AAPL leveled off on Friday, closing the week at $96.04. Overall, in four days of trading Apple stock gained modestly at +$1.39 (+1.47%). As usual, there are several storylines that could affect AAPL in the near term. Let's take a closer look.
Apple stock (NASDAQ:AAPL) stayed in the doldrums last week, with prices remaining under $100. Since the last earnings report, investors have been concerned about iPhone sales. Shares opened Monday at $93.91 and peaked during Wednesday trading at $96.31 only to slide, bottoming out Thursday morning at $92.60. AAPL gained its footing on Friday, closing at $93.99, up eight cents per share over the week for virtually no change.
Apple may finally take the plunge into TV production, with reports of a series starring Dr. Dre in the works. Besides original programming, the company is also set to announce the iPad Air 3 and an upgraded 4-inch iPhone. Both new devices could launch quickly after the official announcement in mid-March. Instagram fans can now easily switch between accounts, and Facebook fans can upload Live Photos. Here are some of the highlights in Apple news this week, including a record dividend for AAPL shareholders.
Apple stock (NASDAQ:AAPL) opened on Monday at $96.16, and during the trading day Google's parent company Alphabet (NASDAQ:GOOG) briefly surpassed Apple as the most valuable company in the world. After Apple's earnings report hit, prices remained under $100. Alphabet also released a strong earnings report last week. Continuing the lackluster news for Apple, the company expects iPhone sales to decline year-over-year for the first time next quarter. Investors are concerned as the iPhone represents a majority of Apple's overall revenues. Both Alphabet and Apple are valued in the low to mid-$500 billion range.
The week in Apple news brought more reports detailing next generation products in the pipeline. Throughout the coming year, the iPhone 7, iPad Air 3 and iPhone 6c are all set to launch. Design changes and upgraded internal hardware will update most of Apple's mobile products. Super Bowl 50 will be widely accessible on iOS devices this evening, and Nintendo has a secret iOS app in the works. Here are more details on the week in Apple news.