Apple Shares Hit $300, Mega Milestone for Consumer Electronics Market
Apple shares are at an all time high, rising above $300 for the first time. It’s a major milstone for Apple, and confirmation of its influenc in consumer electronics within our current market. Opening at $300.20 this morning, Apple stock recently traded at $300.50, up 0.6% from Tuesday, and 43% for the year.
Despite the overtaking of that market by Android (in some regards), Apple is managing to stay on top. It’s been a great few years for Apple, with an entire family of electronics devices taking over the consumer market. This year brought a revamp of every product in its line, along with the introduction of the iPad. And a week from now, Apple’s expected to unveil a major update of Mac OS X at an event called “Back to the Mac.”
Also coming up next week is apple’s Q4 earning call, with analysts expecting sales approaching $19 billion, with earnings of $4.05 per share, excluding items. This will be an opportunity to look at the iPad for two quarters in a row–the beginnings of more comparative analysis around the iPad and larger tablet markets.
Though Apple is topping $300 per share, the company is still facing some challenges in the mobile OS department. Android continues to gain attention from media partners, developers and consumers alike, while Microsoft is anxious to compete with Windows Phone 7. One OS challenge in particular is being revisited, with the approval of a patent for technology that could censor text messages sent from iPhones. Depending on what Apple does with this technology, the company could be facing another round of public scrutiny, driving customers into Android’s arms.
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