Shares of Apple Inc. (NASDAQ: AAPL) added $0.65 last week, just a slight gain (0.4%) after posting its latest 52-week high on May 15. The company remains the best-performing stock by a wide margin among the 30 equities that comprise the Dow Jones Industrial Average (DJIA). The company’s stock is up 32.63% year to date, well above second-place McDonald’s 23.12% improvement.
The company’s market cap at Friday’s close was $803.67 billion, so it’s position as the world’s most valuable publicly traded company remains secure.
Apple and Nokia last week settled a patent licensing dispute, ending up with Apple signing a multiyear license related to Nokia’s intellectual property. In addition, in its new incarnation as a networking equipment supplier, Nokia will supply Apple with network infrastructure products like routers and switches, along with technical services.
That was the good news on Apple’s legal front. The less-good news is that the company’s dispute with Qualcomm continues as the chipmaker has now requested a court order to force Apple’s contract manufacturers to keep paying royalties while the legal case with Apple proceeds.
Apple also applied for a license from the Federal Communications Commission (FCC) that would allow the company to test 5G cellular service in the 28-Ghz and 39-Ghz bands. According to a report at Business Insider, Apple is testing the piece of 5G service known as millimeter-wave technology. Interestingly, the DJIA’s worst performing stock in 2017 is Verizon, which just paid $3.1 billion for a huge swath of spectrum in those very bands.
Apple shares closed at $153.61 on Friday, in a 52-week range of $91.50 to $156.65. The consensus 12-month price target is $160.94, according to MarketWatch.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
