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A Surprising Start To Apple’s June Quarter

A Surprising Start To Apple’s June Quarter

May 7, 2014
The June quarter is shaping up to be a surprisingly good one for Apple. A recent supply check with Apple vendors show that sales climbed 7 percent during April. Typically they are down around 1 percent during the month, according to AppleInsider. Analyst Brian White of Cantor Fitzgerald said on Wednesday that his data shows this year may have been close to a record for suppliers' month-to-month growth in April. This could mean big things for the current quarter, which ends on June 30. Cupertino once launched new iPads between March and April, and new iPhones in June. That is no longer the case, as the company has shifted product launches to the fall. Lately, the June quarter is “now something of a dry spell for the company.” White notes:
With Apple's March quarter results out of the way a couple of weeks ago, and WWDC on the horizon in June, we believe more investors will be getting more actively involved with the name ahead of this product cycle, during what we have dubbed as the 'Year of Innovation.’
Apple shares are up 11 percent since the company announced its second quarter financials on April 23. For the year, the stock is up 5.3 percent. White is maintaining a price target of $777 for AAPL stock. Besides announcing next-generation iOS devices this fall, Apple is likely to unveil the so called "iWatch." A new Apple TV is also a possibility. The company's annual Worldwide Developers Conference (WWDC) begins on Monday, June 2.

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