Shares of Apple Inc. (NASDAQ: AAPL) actually dipped by about 0.5% last week, closing at $139.14. That small change did not threaten the company’s ranking as the top-performing stock in the Dow Jones Industrial Average index for 2017. It is up 20% for the year. The stock had posted a new 52-week high the week before.
The speculation over the features of the next iPhone has been dialed back a little but has not disappeared. AppleInsider, for example, refers to a note from KGI Securities and star Apple analyst Ming-Chi Kuo who thinks the iPhone 8 (or whatever it ends up being called) will easily outsell Samsung’s Galaxy S8, expected to be introduced late this month at an event in New York.
A more general note, also from AppleInsider, refers to a memo from UBS analyst Steven Milunovich claiming that Apple has “superior pricing power” and that the company has become “antifragile.” Apparently, that means that Apple can withstand threats from any direction and still remain standing because it has had to face down so many threats already.
One final bit of Apple news from last week: Japanese website Mac Otakara, cited by MacRumors, thinks the iPhone 8’s official name will be “iPhone Edition,” a designation the company has already used for its high-end Watch. The iPhone 8/Edition, which could cost $1,000 or more, certainly would qualify as high-end.
Apple’s market cap is now over $730 billion, a drop of $3 billion in the past week. Between last May, when the stock dropped to a 52-week low, and last week, the shares have added more than 55%. The DJIA is up about 18% in the same period and the Nasdaq Composite is up about 24%.
Apple shares closed at $139.14 on Friday in a 52-week range of $89.47 to $140.28. The consensus 12-month price target is $142.69 in a price target range of $102 to $185 per share.