iPhone means Business
February 27th, 2008. Posted by AppleOption
Today Apple Stock (AAPL), opened at $118.24 and climbed to a close of $122.96. Not a bad day gaining 3.20%. But the real story occurred in after-hours trading, where the price climbed an additional 3.53% to $127.30!
The motivation to this surge was the iPhone SDK. Apple sent notification of an event occurring on Thursday, March 6th @ 10:00am PST. At this event they plan to detail the iPhone software roadmap as well as release the iPhone software development kit (SDK).
Utilizing the iPhone SDK, Apple might be able to help businesses customize the iPhone for better integration into the corporate environment. In addition to the business world, Apple has seemingly assisted Abilene Christian University (ACU) develop software to enable incoming freshman (whom are given an iPhone) receive homework alerts, answer in-class surveys and quizzes, get directions to professors’ offices and check account/meal balances with 15 helpful web applications. Once the iPhone SDK becomes available, businesses will be able to similarly customize the interface to maximize productivity within the company.
The stock market views this news as potential catalyst to increase sales. Last quarter, Apple has shipped 2.3 million iPhones. If the iPhone becomes accepted into the corporate model, then the blackberry might quickly find itself being replaced by the iPhone. Meanwhile, Apple will profit from increasing product line sales growth. Investors in after-hour trading got an early jump on the news and help catapult Apple up to $127.30.
Click to enlarge Apple’s 60-day Chart
Traders might also gain helpful insight by listening to Tim Cook’s talk at Goldman Sachs Technology Investment Symposium.
In the long-term, Apple seems to be forming a nice bottom before the next rally. While at least this news will help bring the stock price back to $130’s or better.
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