New range of iPads
Yesterday, Apple (AAPL) launched a newly upgraded range of its iPad Air and iPad mini devices ahead of its March 25 special event.
At its upcoming event on March 25, the company is expected to launch its video streaming service.
A quick look at the specs
Apple’s new iPad Air and iPad mini both have advanced retina displays and support the Apple Pencil. The company said its new 10.5-inch iPad Air is ~70% faster than its 9.7-inch iPad and has twice the graphics capability.
Similarly, the new 7.9-inch iPad mini is capable of delivering “three times the performance and nine times faster graphics” than its predecessor, and it has a 25% brighter display.
Investors’ positive reaction
On March 18, Apple stock inched up 1.0% compared to the 0.4% and 0.3% gains in the S&P 500 Index and the NASDAQ Composite Index (QQQ), respectively. Investors’ expectation that the company’s new range of iPads will help it boost its product sales could be the reason why Apple stock outperformed the broader market yesterday.
Overall, Apple has traded on a positive note for the last seven consecutive sessions. Optimism related to its upcoming special event scheduled for March 25 is one of the reasons for these gains.
As of March 18, Apple stock has seen an 8.6% month-to-date gain compared to just 2.4% for the NASDAQ Composite Index. In comparison, Microsoft (MSFT), Alphabet (GOOG), NVIDIA (NVDA), Qualcomm (QCOM), Intel (INTC), Amazon (AMZN), and Oracle (ORCL) have risen 4.9%, 5.5%, 9.5%, 6.4%, 2.2%, 6.2%, and 2.6%, respectively, this month.
Nike (NKE) has exceeded analysts’ revenue expectations for the last five consecutive quarters.
Yum! Brands (YUM) is set to report its first-quarter earnings before the market opens on May 1.
Merchant power player NRG Energy (NRG) is slated to report its first-quarter earnings on May 2. According to consensus estimates, NRG will report earnings of $0.56 per share for the quarter, which ended on March 31.
Fortinet (FTNT) is scheduled to announce its first-quarter results on May 2.
AK Steel (AKS) is scheduled to release its first-quarter earnings on April 29 after the markets close. The company is to hold its earnings call on April 30.
Apple (AAPL) is scheduled to release its second quarter of fiscal 2019 results on April 30 after markets close.
Clorox (CLX) stock was trading flat on a year-to-date basis as of April 24, and it has underperformed the broader markets as well as its peers.