AAPL Stock Price Increased 1.27%: Why It Happened

By Amit Chowdhry ● June 22, 2021
  • The stock price of Apple Inc (NASDAQ: AAPL) increased 1.27% today. This is why it happened.

The stock price of Apple Inc (NASDAQ: AAPL) increased 1.27% today, going from a previous close of $132.30 to $133.98. There seem to be a few catalysts along with a broader market rally.

Today Apple announced “Today at Apple Creative Studios,” which is a global initiative that will provide career-building mentorship, professional industry skills training, creative resources, and access to Apple’s full product lineup of iPhone, iPad, and Mac to underrepresented communities across the world. And Creative Studios will launch first in Los Angeles and Beijing, followed by Bangkok, London, Chicago, and Washington, D.C. later this year. In each of these cities, Apple will work hand-in-hand with nonprofit community organizations to connect youth with mentors and established artists.

Apple also previewed its newest retail location at the historic Tower Theatre in downtown Los Angeles. As one of Apple’s most significant restoration projects to date, Apple Tower Theatre aims to inspire more creativity in the heart of downtown. “Today at Apple Creative Studios” also kicked off with the opening of the new store in Los Angeles. Apple Tower Theatre is Apple’s 26th location in the greater Los Angeles area.

Another catalyst also seems to be a recent bullish report from Wedbush. Wedbush analyst Daniel Ives had reiterated an “Outperform” rating and an $185 price target on Apple following recent Asia supply chain checks putting the iPhone builds at between 130 million and 150 million.

“This positive outlook gives us enhanced confidence that 2021’s launch timing will be normal. From a timing perspective, we believe the current iPhone 13 launch is slated for the third week in September,” said Ives in a statement.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.