AAPL

Apple Inc.

141.66
USD
2.45%
141.66
USD
2.45%
129.04 182.94
52 weeks
52 weeks

Mkt Cap 2.32T

Shares Out 16.41B

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Why Apple Stock Jumped on Monday

What happened Shares of Apple (NASDAQ: AAPL) climbed higher on Monday, adding as much as 4.1%. As of 12:57 p.m. ET, the stock was up 3.1%. The catalysts that sent shares higher were several reports that were good news for Apple shareholders. So what A report over the weekend suggested that the iPhone maker is looking to increase its production outside China, according to The Wall Street Journal. Detractors have long derided Apple's heavy reliance on China to assemble its popular electronic devices, which many believe is the company's Achilles' heel. The report cited China's "Zero-COVID" policy among other factors. Apple already has manufacturing operations in Vietnam and India, which could eventually get a greater share of the company's device quotas. Having alternative facilities would certainly work in Apple's favor, giving the company greater flexibility. Well-known Apple analyst Ming-Chi Kuo suggested that the tech giant plans to release the latest version of its HomePod smart speaker near the end of 2022. The company has lagged rivals in the smart speaker market, but could eventually take market share if it can crack the code regarding utility, design, and price point. Previous rumors suggested that Apple was working on devices with viewing screens and cameras, though these reports are, as yet, unconfirmed. Finally, UBS analyst David Vogt reported that a recent survey of 7,000 smartphone users suggests that demand for the iPhone is rising in China, with purchase intent up 6% year over year, marking its highest level in six years, according to the UBS Evidence Lab. The iPhone 13 is taking share from Chinese smartphone providers. The news was mixed, however, as purchase intent in the U.S. is down 4%. Now what Apple stock has slumped 22% so far this year, dragged down by the bear market, inflation, and the specter of a recession hanging overhead. These fears stand in stark contrast to the company's fiscal second-quarter results, as Apple posted record revenue for the quarter that ended March 26. The results were fueled by an all-time revenue record from its services segment and second-quarter revenue records for the iPhone, Mac, and wearables, home, and accessories segments. Given the company's continuing strong execution, I suggest Apple stock is a buy at this level. 10 stocks we like better than Apple When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Danny Vena has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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