The share price of Apple reached an all-time peak as we entered a new year. Altogether, the value closed at $300 on New Year’s Day, highlighting another successful year for the California-based company.
Same month, different result
This time last year, Apple’s share price was less than half of what it is now. The value of each share was at $144 following Apple’s decision to lower its revenue guidance for Q1 2019 by up to $9 billion. This caused investors to panic and subsequently the share price fell.
MacRumors reports that Apple can thank two of its key products for the sharp rise in the share price. Firstly, the iPhone 11’s introduction in September massively helped the tech giant make a comeback following a tough start to the year.
The main player
Initially, iPhone sales were down in East Asia, in part due to trade tensions between the United States and China. Along with this, prices of the devices had risen, causing more struggles to offload them.
However, Apple managed to overcome this impasse with the introduction of its latest launch in the iPhone series. The iPhone 11 arrived in three editions. The standard version, the Pro and the Pro Max. It is the former of the options that managed to turn the situation around for the firm.
Priced at a reasonable $699 on release, this phone was once again affordable for a huge segment of its target audience. With China being a huge market for Apple, managing to once again tap into the region did wonders for its shares.
Furthermore, by introducing the Pro and Pro Max models at $999 and $1099 respectively, it has managed to cover all angles when it comes to consumers.
The eggs aren’t in one basket
Along with the iPhone, Apple’s AirPods have also managed to help boost the company’s stock. The total sales of the earphones were expected to hit 60 million units at the end of last year.
This is in thanks to the positive reaction of the AirPods Pro edition. These $249 pods offer noise cancellation and water resistance. Moreover, they have surpassed expectations as demand for them is soaring.
Ultimately, sales of the iPhone 11 and the AirPods often come hand in hand. Therefore, Apple regularly doubles up on the shipments of its two cash cows. Apple is reported to attend CES 2020 in a rare official appearance according to MacRumors. Perhaps there could be something special on its cards this year.
What are you excited to see from Apple year? Let us know your thoughts in the comment section.