Apple-The Forever Company
- Harsh Mittal
- Sep 26, 2021
- 2 min read
Apple Inc. founded by Steve Jobs, Steve Wozniak, and Ronald Wayne on April 1,1976 out of a garage in Cupertino.Apple initially sold the Apple 1 which was just a motherboard with parts such as monitor,keyboard and casing not included.Apple then hit the stock market with their IPO on December 12,1980 with 22$ per share.Since then,Apple has come a long way with multiple management changes and five stock splits.
Apple currently trades at 146-149$ with a market cap of 2.463T $ and a PE ratio of 29.16.A great buy for value investors as Apple is a company with great potential and strong values supported by their financials.Apple sees a bullish sentiment amongst the market participants with increasing hedge fund activity.
One year targets to soar to 196$ on basis of fundamental and technical analysis.Apple recently held its annual event where they launched the new Iphone lineup ,the Apple Watch and showcased the New generation of Ipads.IPhone sales are expected to touch 190B$ in the fiscal year 2021.Analysts offering 12-month price forecasts for Apple Inc have a median target of 169.28, with a high estimate of 196.00 and a low estimate of 90.00. The median estimate represents a +13.72% increase from the last price of 148.86.
Apple is currently diversifying heavily and wants to enter the automobile industry with their new Apple electric vehicle which is in development since 2013. Although a profitable industry, in my opinion, the apple car is a late comer and does not stand a chance in front of the major German automobiles who have started electrification of their lineups recently.Nor does it stand a chance in front of Chinese manufacturers such as BYD which has heavy funding from Berkshire Hathaway. Apple products have plateaued on their innovation side and this might be a problem but 2022 seems hopeful with the launch of a phone with no notches expected to increase revenue by 27%. Efforts of Apple to enter the banking industry in multiple countries with the Apple Card do seem to be working but the capital intensive industry might backfire for Apple.Apple is currently in a very tight spot but has a lot of ongoing projects which might lead to immense profitability increasing stock prices.
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