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The rally in Apple shares to new highs made it pretty clear that investors and technology geeks care more about what the iPhone 6 will look like, than the leak of a bunch of nude photos of celebrities, as a result of the alleged hacking of Apple’s iCloud service.
Apple’s stock AAPL, +0.25% climbed 0.7% in midday trading Tuesday, and hit an all-time intraday high of $103.74 earlier in the session. The stock is on track for a fourth-straight record high close.
Meanwhile, Apple said it was investigating reports that vulnerabilities in its iCloud service were exploited to break into the accounts of a number of celebrities, including Jennifer Lawrence and Kate Upton.
Analyst Trip Chowdhry at Global Equities Research said the hacking scandal is a little “unpleasant,” but having an occasional breach is a normal process when everything is connected. “It shouldn’t be considered a ‘Wow’ event,” he told MarketWatch. “The real excitement is what will happen next week.”
Apple’s stock has now gained 1.1% in the past three sessions, since Apple confirmed it will hold a special event on Sept. 9, which investors believe will involve the presentation of the new iPhone 6. The shares have climbed 7.4% over the last month, compared with a 3.6% rise in the S&P 500 SPX, -0.15% over the same time.
Analyst Shelby Seyrafi at FBN Securities said the hacking scandal shouldn’t cloud investors’ outlook on the stock. “It’s a very small setback, that I’m sure they’ll address,” Seyrafi said. “So i wouldn’t overreact to it.”
Walter Piecyk, an analyst at brokerage firm BTIG, said it wasn’t certain that iCloud is actually to blame for the latest hacking scandal, and he highly doubts “that yet another privacy breach will have an impact on Apple sales,” unless it can be shown that the iPhone is at a greater risk than the alternatives.
Apple’s stock AAPL, +0.25% climbed 0.7% in midday trading Tuesday, and hit an all-time intraday high of $103.74 earlier in the session. The stock is on track for a fourth-straight record high close.
Meanwhile, Apple said it was investigating reports that vulnerabilities in its iCloud service were exploited to break into the accounts of a number of celebrities, including Jennifer Lawrence and Kate Upton.Analyst Trip Chowdhry at Global Equities Research said the hacking scandal is a little “unpleasant,” but having an occasional breach is a normal process when everything is connected. “It shouldn’t be considered a ‘Wow’ event,” he told MarketWatch. “The real excitement is what will happen next week.”
Apple’s stock has now gained 1.1% in the past three sessions, since Apple confirmed it will hold a special event on Sept. 9, which investors believe will involve the presentation of the new iPhone 6. The shares have climbed 7.4% over the last month, compared with a 3.6% rise in the S&P 500 SPX, -0.15% over the same time.
Analyst Shelby Seyrafi at FBN Securities said the hacking scandal shouldn’t cloud investors’ outlook on the stock. “It’s a very small setback, that I’m sure they’ll address,” Seyrafi said. “So i wouldn’t overreact to it.”
Walter Piecyk, an analyst at brokerage firm BTIG, said it wasn’t certain that iCloud is actually to blame for the latest hacking scandal, and he highly doubts “that yet another privacy breach will have an impact on Apple sales,” unless it can be shown that the iPhone is at a greater risk than the alternatives.
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