Submitted by Frank Macey on
Apple (NASDAQ:AAPL) shares closed today at a record-high price of $133.29, beating the previous record of $132.54 set in May 2015. The new high comes after a quarterly report detailing iPhone sales of over 78.3 million, which delivered over $54 billion in revenue during the period ending December 31. Sales were up five percent over the same period in 2015, generating almost 70 percent of Apple's total revenue. AAPL continues to climb thanks to anticipation surrounding the iPhone 8 launch later this year.
Several reports have pointed to wireless charging, an OLED display and other innovations Apple is said to be incorporating into the next generation iPhone. The device could include new biometric features such as an iris scanner, and may feature a significantly larger battery.
Apple has also been working on augmented reality features, which could debut on the flagship iPhone this fall. News of a $4.3 billion contract with Samsung to produce OLED displays for Apple has also surfaced, confirming other leaks just as the company has joined the Wireless Power Consortium. Apple joins over 200 other companies looking to work with the Qi wireless charging standard.
Analysts believe Apple's stock could be undervalued by 10 percent, as the company's services earnings are not being weighted as much as they should be. Not only are Apple's services earnings gaining more attention, but Goldman Sachs has maintained a "buy" rating on AAPL and declared a new target price of $150 per share.