Key Stats for Apple Stock
- Price change for Apple stock in the last six months: 32%
- $AAPL Stock Price as of Oct. 13: $341
- 52-Week High: $348
- $AAPL Stock Price Target: $329
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What Happened?
Apple (AAPL) announced HomeView on Tuesday, a new smart home hub. It is CEO John Ternus’s first launch outside of iPhones since he took over from Tim Cook in September.
The device has a 7-inch screen and can be mounted on a wall or placed on a table.
It uses facial recognition to show each person their own information from Messages, Photos, Calendar, and Reminders, while supporting up to six users.
HomeView runs on an A18 chip and features Siri AI. Users can also continue conversations with Siri on their iPhone or iPad.
It can also make FaceTime calls, play music, and work as a digital photo frame. The device pricing starts at $299 and ships on Nov. 13.
HomeView can also serve as a smart home dashboard, letting users view camera feeds, adjust the thermostat, or lock doors.
Apple says setup takes one tap from an iPhone and that its Apple Home Collection accessories encrypt data so only the user and those they share it with can see it.
Apple also launched a new Apple TV 4K and a refreshed HomePod Mini.
The Apple TV 4K now costs $299, up from $199. The HomePod Mini costs $149, up from $129.
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What the Market Is Telling Us About Apple Stock
These products matter less than the iPhone, yet investors still focus on iPhone sales.
The Wearables, Home and Accessories category brought in $7.9 billion last quarter, up 6% from a year ago. The segment accounts for just 7% of total sales.
Still, the launch shows Apple is prioritizing the smart home under Ternus while giving it a way to showcase Siri AI.
For Apple stock, the bigger benefit may be that more connected devices make customers less likely to leave the Apple ecosystem.
Tim Cook said on the latest earnings call that Apple raised prices reluctantly, and he described the surge in memory prices as a “100-year flood.”
Apple also expects to pay even more for memory next quarter, while supply limits on its advanced chips are expected to get worse as well.
Even so, the latest quarter was strong. Revenue hit $109.4 billion, up 16%, and iPhone revenue rose 22%. Apple guided to 9% to 11% revenue growth for the September quarter.
For now, Apple stock will likely keep trading on iPhone demand and memory costs. HomeView is a new product category worth watching, but it is unlikely to change the story on its own.
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So what is Apple stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
