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Red-hot Apple shares on track for closing high

Red-hot Apple shares on track for closing high

Bolstered by a new Goldman Sachs research note which put a target price of $150 on AAPL, shares of the Cupertio-based company opened strong today and closed at $133.29.

Apple even cut its CEO's pay by 15% due to the company's failure to meet its performance goals for both sales and profits. Instead, the company increasingly has been focusing on its services, including things like the App Store, Apple Maps, iTunes, iCloud, and Apple Pay, which C.E.O. And this has given rise to speculations that the iPhone 8, that is the September 2017 edition of the iPhone will come with some next level AR technology.

Apple is the world's most valuable company. "Consumers feel better, people spend more money". Company insiders own 0.08% of the company's stock.

Warren Buffett's Berkshire Hathaway Inc., has poured millions of dollars into Apple over the a year ago, which brings its stake to almost $1.5 billion.

So, all and all, Apple's chances to reveal an augmented reality device can't be denied at this moment.

The United States Patent and Trademark Office published Apple's Patent No. 9,560,273, which lays down the hardware framework of an augmented reality device that has enhanced computer vision capabilities, and Patent No. 9,558,581, which provides details of a particular method of overlaying virtual information over a given environment. And this, the analyst adds, will be a "key differentiator" for the celebratory edition of the iPhone. The new wave of innovation is significant for Apple stock as the market for smartphones is beginning to slide.

Apple's stock recently traded at 14.3 times expected earnings, the highest level since April 2015 and significantly higher than the average price-earnings ratio of 12 over the past five years, according to Thomson Reuters Datastream. 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.

There's no telling what augmented reality route Apple could go for - using a sensor on the back to work with the main camera to recognize objects in the frame or using a front-mounted sensor for iris or face recognition. This is where the future AR potential of the "iPhone 7 Plus" comes into the picture.

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