Apple Shares Popped Monday: Everything You need to Know

October 12, 2020 By iwano@_84 Off

Apple  (AAPL) – Get Report shares surged Monday and the reason shouldn’t surprise anyone. The company is unveiling its iPhone 12 Tuesday, but there is a lot of information incorporated into the stock move.

The stock rose more than 6% to about $124 a share by 2 PM EDT Monday. After a nasty correction in September, when the stock fell as much as 20% — a technical bear market — investors have been willing to pay a roughly 30 times multiple on the next 12 months of earnings. That’s against analysts’ estimates of 8% compounded earnings growth for the next several years. However, analysts TheStreet has spoken with admit short-term and long-term earnings estimates have significant upside across businesses, legacy hardware, wearables and services.

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