Dow Theory Forecasts

02/28/2017 6:00 am EST


Richard Moroney

Editor, Dow Theory Forecasts

Investors have rediscovered their love for Apple (AAPL), pushing the shares up 15% in 2017 to reach an all-time high. The recent rally may point to anticipation of the forthcoming iPhone. And the latest chatter centers on expectations that three models of different sizes will be released. 

At least one model will abandon the traditional aluminum-alloy chassis for a reinforced glass chassis in a metal frame, according to DigiTimes. The next iPhone may also feature a wireless-charging system.

Apple plans to begin making iPhones in India by the end of April, while continuing to explore opening retail stores and selling used iPhones in the country. 

At 16 times trailing earnings, the stock trades near its highest level since fiscal 2015 ended September but remains 24% below the median S&P 1500 technology stock. Apple is a Buy and a Long-Term Buy.

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