Key Stats for Apple Stock
- Price change for Apple stock in last 6 months: 26%
- $AAPL Stock Price as of Oct. 19: $343
- 52-Week High: $348
- $AAPL Stock Price Target: $329
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What Happened?
Apple (AAPL) has set a launch event for Oct. 28. Invitations went out Monday to media and analysts for an “Apple Experience in Los Angeles.”
The invite says “Pro and tell,” which points to high-end “Pro” devices with Apple’s own chips.
Melius Research analyst Ben Reitzes expects new Macs, including a touchscreen notebook.
Apple has long pushed back on the idea. In 2018, software chief Craig Federighi said the ergonomics would tire users out.
This is the third launch under CEO John Ternus, who took over from Tim Cook last month. The first was an iPhone event that included the foldable Duo.
The second was in New York and covered smart home hubs and a speaker with a screen called HomeView.
Reitzes called the faster pace a “meaningful shift” from two events a year.
The Mac lineup is mostly fresh already. Mac Mini and Mac Studio got new chips in August, while the MacBook Pro was refreshed in the spring, along with the low-cost MacBook Neo.
The iMac is the exception and it hasn’t been updated since October 2024.
Apple also teamed up with Meta last week. Together they are bringing a large open-weight model from Meta to several high-end Mac Studios.
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What the Market Is Telling Us About Apple Stock
Macs are still a small piece of the business and accounted for 10% of revenue last quarter, and Apple leans heavily on the iPhone.
But Macs have become a big part of Apple’s AI story. Its chips can reach more memory at higher speeds than other consumer processors.
Apple stock is up 26% this year and has beaten the S&P 500, which suggests investors already like where things are heading.
Revenue was $109.4 billion, up 16%. Mac revenue rose 29% to $10.4 billion, and iPhone revenue rose 22% to $54.3 billion, while EPS came in at $2.02.
Apple said supply limits would grow in the September quarter, hitting iPhone, Mac, and iPad.
It guided revenue growth to 9% to 11%. Rising memory costs are another concern as Tim Cook said Apple expects to pay even more for memory.
Still, new Macs could keep the momentum going. Apple stock has plenty of good news priced in, so the Oct. 28 event will be a key moment for Apple stock holders to watch.
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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!
