Ongoing Demand for Technology will grow going into 2017

Apple, Inc. (NASDAQ: AAPL) closed in at 116.76 on Wednesday. Apple approaches its last two trading days of 2016 with a positive year-to-date return of 11.40%. The company has a massive market cap of 621.37 billion, Earnings Per Share of 8.31, a 52-week high of $118.69 with a 52-week low of $89.47, and an average volume of 32,434,249.

Even though Apple has been underperforming in the technology sector which is represented by the Select Sector SPDR Trust (The) (NYSEARCA: XLK), the stock has a lot of potential to grow heading into 2017.  The tech industry will be the main focus in many companies in the future as we are gearing towards gadgets and convenient time savers such as Amazon delivery drones, Google Home and Amazon Echo. 

According to Flurry Analytics, Apple activated 44% of new phone and tablet devices this year meanwhile Samsung only activated 21% of devices. Furthermore, most analysts rate Apple a “Buy” rating or better. Out of 32 analysts, 22 analysts rated Apple a “Strong Buy”, 4 rated it a “Buy”, 4 rated it a “Hold”, and another 2 rated it a “Sell”.

According to Factsreporter, “Insider Trades for Apple Inc. show that the latest trade was made on 14 Dec 2016 where Riccio (Daniel J Jr), the Officer completed a transaction type “Sell” in which 600 shares were traded at a price of $116.55.”

Leave a Comment