William Gallagher
Apple stock was having a tough year after some early gains — until investors erased the loss after Thursday's earnings report.
Investment firm Bernstein was right when it told clients to buy Apple stock because it was at an attractive low price. At the close of trading on Thursday, Apple's shares were at $173.03
In aftermarket trading, they have increased. A lot.
At time of writing, the share price is $185.75 and generally rising. By comparison, at the start of 2023, the price was $185.64.
This is not the highest that the share price has risen to during the year, as it previously peaked at $195.81. The lowest was around $165.84 in late April 2024.
But in a quarter where most analysts such as JP Morgan, and even the generally bullish Morgan Stanley have been cutting their Apple price targets.
Analysts have consistently predicted that Apple's share could recover, but all expected it to happen after the expected AI announcements at WWDC 2024 in June.
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13 Comments
$185.75? When was this? The article text says "at the time of writing." I interpret that to mean the time the article was written. The article is dated May 3, 2024. It's May 3, 2024 at the time I am writing this. The AAPL ticker on AppleInsider shows 173.16, which is not anywhere close to $185.75, so either the article is talking about some other "time of writing" or AAPL rose to 185 and then dropped back down to 173. What the...?
The prices are "after close of market" prices. Stocks trade nearly 24/7 today but markets are only open certain times. Companies announce earnings either before or after the markets are open as they don't want to disrupt normal market flow. Unless you trade your own stocks (don't use a broker and trade online) you would not find this of interest since brokers work normal market hours.