With a hope to see new products from Apple Inc. (NASDAQ:AAPL), investors showed a lot of faith in the company and its stocks closed an all time high of $100.53. The company is planning to come up with its best iPhone product along with a watch-device for the customers.
The shares of Apple Inc. (NASDAQ:AAPL) gained up to 1.4% or $1.37 with a new record price of $100.53. This is the biggest gain registered by the company after iPhone5 product launch in September 2012. With larger screen in iPhone6, the company is planning to compete with its top rivals and it will open up new market such as China for the company.
Apple Inc. (NASDAQ:AAPL) was in danger of losing its market leadership after the launch of iPhone5 and experts even claimed that the company is unable to deliver innovative products with Steve Jobs. However, iPhone6 is expected to breach all the previous records and shareholders can expect an upward rally towards the end of the year.
In addition to the increasing share prices, Carl Icahn has come up in favor of the company and even reminded that the increase in Apple Inc. (NASDAQ:AAPL)’s share prices support his statement that the company was undervalued. According to his recent 13F SEC filing, Icahn Capital LP has 52,760,848 shares of the company worth $4,903 million and he increased Apple’s shares by 600% in the second quarter 2014. (You can see entire list of Carl Icahn Holdings).
Apple Inc. reported net profit of $7.7 billion in the quarter ending on June 28, 2014 with revenue of $37.4 billion. The company has declared dividend of $0.47 per common share of the company and the company generated $10.3 billion worth of cash flows from its operations.
This article has been written by Prakash Pandey and edited by Serkan Unal.