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Apple Under Investors’ Spotlight Ahead Of iPhone Launch

All eyes are on Apple Inc stocks ahead of the company’s iPhone 14. The tech giant unveiled its latest smartphone on June 6 at its Worldwide Developers Conference, also demonstrating a range of the key features that could be accessed on the new model. Apple’s stocks rose by a marginal 0.5% following the event.

Much speculation has been amassed surrounding the release of the latest iPhone model, particularly given the rocky year that Apple’s shares have endured. While Apple hit a market cap of $3 trillion at the start of the year on January 3, the company’s stocks slipped in the weeks that followed, going from a record high of 182.94 to 163.62.

On July 28, Apple made a comeback as the company released its financial results for the third fiscal quarter, beating Wall Street estimates in a move that saw Apple shares gain 3.3% in the following trading session.

The company generated $83 billion in sales for the period ending June 25, compared to analysts’ projections of $82.8 billion. The iPhone emerged as the third quarter’s standout performer with sales rising by 3% to $40.67 billion. As a result, smartphones accounted for 49% of Apple’s total sales.

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