- The stock price of Apple Inc (NASDAQ: AAPL) increased by over 1.9% during intraday trading today. This is why.
The stock price of Apple Inc (NASDAQ: AAPL) increased by over 1.9% during intraday trading today. Investors are responding positively to a bullish research report along with the company raising retail hourly salaries.
There are reports that Apple Inc (NASDAQ: AAPL) has notified employees that it is increasing the starting pay for hourly workers to a minimum of $22 per hour and even higher for certain markets, according to The Wall Street Journal. In order to be able to retain and hire more talent while also accounting for inflation, Apple has been pressured to increase pay.
Bullish Research Report
Morgan Stanley analyst Katy Huberty had reiterated an Overweight “rating” on the company and assigned Apple a $195.00 price target. Huberty had acknowledged that claims that production for one of Apple’s iPhone 14 models could be delayed. But Huberty’s sources do not indicate delays following channel checks.
Plus looking at past flagship iPhone launches, there has been minimal impact on the full-year shipments or Apple’s stock performance when a model launch is delayed – indicating the recent pressure could be a buying opportunity.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.