within half a percentage point of AAPL’s performance for the week.
Apple Pay May Be Launched in Less Than Two Weeks
Excitement is building for the upcoming debut of Apple’s new mobile payment system that will let users pay by waving their iPhones or Apple Watches at mobile-payment-enabled terminals of participating merchants, which will charge purchases to credit cards users have on file in iTunes.
Rumors are circulating that Apple Pay will be released on Oct. 20, via an iOS 8.1 update.
A New iPad May Also Launch Very Soon
Rumors are that a new version of Apple’s 9.7-inch iPad will be released on Oct. 16. Apple hopes to turn around a trend of declining iPad sales. Rumored enhancements include gold being offered as a new color choice.
Also according to rumors, a larger iPad, with a 12.9-inch screen will be released next year.
iPhone 6 Said to Be a Big Hit in China
According to Chinese media, there were 2 million preorders for the iPhone 6 and iPhone 6 Plus placed with Chinese mobile carriers and retail stores during the first six hours that preorders were being taken.
Analysts All Over the Map This Week
Deutsche Bank (NYSE: DB) analysts lowered their rating of AAPL from buy to hold and lowered the price target sightly from $105 to $102, saying that Apple most likely has few surprises left. They also said that analyst expectations for the iPhone 6 sales are priced into the stock and are already very high, which will make it hard for AAPL to beat expectations.
However, other analyst views this week were more positive. Bank of America (NYSE: BAC) analysts reinstated coverage with a buy rating and a price target of $120, saying the Apple ecosytem remains strong and noting an iPhone 6 “super cycle.”
Analysts at Susquehanna (NASDAQ: SUSQ) maintained their “positive” rating and raised price estimates from $115 to $120
Zacks analysts upgraded AAPL to a strong buy, citing strong iPhone 6 and iPhone 6 Plus sales and the launch of the new iPad, which Zack analysts expect to sell well during the upcoming holiday season.
U.S. Teens Love iPhones But Not Excited About Apple Watch
A Piper Jaffray (NYSE: PJC) survey of U.S. teens shows that 73 percent expect their next smartphone to be an iPhone, but only 16 percent plan to buy an Apple Watch.
Vanguard Mega Cap Growth ETF — MGK
If you want to invest in AAPL while reducing the risk that comes with single-stock investing, consider an ETF such as MGK, which invests in large growth domestic stocks and has an expense ratio 91 percent lower than other funds with similar holdings. The fund invests in 151 stocks, with AAPL as its largest holding.
By Diana Primavera, ETF Daily News
