Today’s Apple (AAPL) increase in the market follows its CEO’s announcement regarding the design and production of face shields for medical personnel. The company is already donating more than 20 million masks to healthcare professionals.
Friday, the title of the technology company Big Four Apple Inc. (NASDAQ: AAPL) closed down 1.44% to $ 241.41. Today, the situation has improved and Apple shares are traded 4.06% in the pre-market. At the time of writing, this represents $251.20 per share.
Opinions on future stock movements have split. Some Wall Street analysts have lowered their estimates for Apple’s stock due to the coronavirus pandemic. For example, Katy Huberty, an analyst at Morgan Stanley, lowered her price target to $ 298 from $ 328, which is already the third time she has changed her mind this year. However, Huberty still believes that in the long term, after the coronavirus crisis has ended, Apple’s stock (AAPL) is a good investment.
“We believe that Apple is in the best position to return to its previous long-term earnings and profit trajectory in light of peak customer retention rates and a solid balance sheet that allows for disproportionate investment compared to its even in the event of a prolonged slowdown. ”
Wedbush Securities analysts Daniel Ives and Strecker Backe also cut their target price for Apple stocks from $ 335 to $ 247.74. They explained it by the possible delay of the new iPhone.
Another expert on reducing Apple’s price target is Krish Sankar from Cowen. Its prediction drops to $ 335 compared to the previous $ 370.
“As the impact of the COVID-19 virus passes from the supply chain to uncertainties in end-market demand, we are reducing our medium-term forecasts mainly on the decline in sales of iPhone and iPad devices.”
Meanwhile, there are also those who believe that Apple shares will go up as the company manages to sell its new iPhone. These optimists rely on Apple’s ability to innovate as a premium factor that drives business growth. Such a result is possible if the coronavirus pandemic ends as soon as possible.
Apple to produce masks for medical workers
The rise in Apple’s pre-market shares today follows the announcement by its CEO regarding the design and production of face masks for medical workers. According to Tim Cook, Apple will produce up to 1 million face masks per week. In addition, Apple is donating more than 20 million masks to healthcare professionals.
Apple is dedicated to supporting the global response to COVID-19. We have now purchased more than 20 million masks through our supply chain. Our design, engineering, operations and packaging teams also work with suppliers to design, produce and ship face shields for medical workers. pic.twitter.com/3xRqNgMThX
– Tim Cook (@tim_cook) April 5, 2020
Last week, the facilities at Kaiser Permanente Hospital in the Santa Clara Valley in California were the first to receive the face of Apple.
Tim Cook said:
“We launched a company-wide effort, bringing together product designers, engineering, operations and packaging teams and our suppliers to design, produce and ship face shields for agents. health.”
Apple face shield packaging is flat, there are 100 masks in a box. Initially, the shields will be shipped to the United States, but Apple has promised to expand distribution worldwide.
Daria is an economics student interested in the development of modern technologies. She is impatient to know as much as possible about cryptos because she thinks they can change our vision of finance and the world in general.