Apple (AAPL) is Making Strong Gains in India Amid Falling Currency
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Price: $283.78 +3.14%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
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Despite being one of Apple's (Nasdaq: AAPL) key markets, there are some factors it can't control.
Due to recent depreciation in the rupee, Apple might miss its goal of $1 billion, but not by too much. Since the start of 2013, the rupee has fallen about 14 percent versus the U.S. dollar. That is enough for the company to fall about $20 million to $30 million shy of its mark.
Basically, Apple is killing it in India, sales really up 11 percent to 12 percent when taking currency into consideration.
As reported earlier this week, Apple is keeping its prices firm in India amid the dropping currency, while competitors have opted to raise prices to keep profits up. The move might make Apple products more appealing, key now that the company has taken the wraps off of its lower-cost iPhone 5C handset.
Another key move made by Apple recently is expanding its distributorship across more resellers, versus just Apple Premium Reseller stores, according to LiveMint. The company's products are now in about 400 large-format retail stores and 2,500 multi-brand outlets, sources said.
Shares of Apple are positive on Thursday's trading session.
Due to recent depreciation in the rupee, Apple might miss its goal of $1 billion, but not by too much. Since the start of 2013, the rupee has fallen about 14 percent versus the U.S. dollar. That is enough for the company to fall about $20 million to $30 million shy of its mark.
Basically, Apple is killing it in India, sales really up 11 percent to 12 percent when taking currency into consideration.
As reported earlier this week, Apple is keeping its prices firm in India amid the dropping currency, while competitors have opted to raise prices to keep profits up. The move might make Apple products more appealing, key now that the company has taken the wraps off of its lower-cost iPhone 5C handset.
Another key move made by Apple recently is expanding its distributorship across more resellers, versus just Apple Premium Reseller stores, according to LiveMint. The company's products are now in about 400 large-format retail stores and 2,500 multi-brand outlets, sources said.
Shares of Apple are positive on Thursday's trading session.
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