With the anticipation that the next iPhone will be a major success, the stocks of Apple Inc. rose a whole percent on Tuesday to close at US$153.99 in New York. This upsurge pushed Apple’s capitalization to about US$803 billion, making it the U.S. Company to achieve the mark. Apple’s shares have earned 33 percent this year alone, gaining from a buyback program introduced by CEO Tim Cook, for which the total was extended to US$210 billion last week, up from US$175 billion by the end of 2016.
Three New iPhones in 2017 to Mark 10-year Anniversary of the First
Apple has announced three top-of-the-line iPhone 8 handsets in 2017, which are keenly awaited by the enthusiast, who are expecting several new features after modest upgrades offers by iPhone 7. 2017 also marks a decade of iPhones, and Apple has promised a new type of screen, stainless steel body, curved glass, and best-of-its-kind camera.
Apple Watch, iCloud, and Airpod Higher Margin Services
Though iPhone continues to constitute the maximum share of revenue for the company, stiff competition is coming from other vendors including Samsung, Google, and other regional players, and the sales have dropped significantly. On the other hand, Apple Watch, iCloud, and Airpod wireless headphones have been detected as higher margin services by Tim Cook, who has sought to diversify the Cupertino, a California-based company, away from smartphones.
Apart from the growing popularity of latest technology and innovative products, Apple’s escalation is also a reflection of a relative decline of the oil industry in the recent past.