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Apple’s stock recovers after hit from unprecedented price hikes on products

Apple’s stock recovers after hit from unprecedented price hikes on products

Last week, Apple announced dramatic price increases on Macs, iPads, and other products due to rising component costs. As a result, Apple’s stock price took a dive. As we head into the holiday weekend, however, $AAPL has rebounded with a 5% gain today.

So what has investors so optimistic ahead of the July 4th weekend?

Wall Street probably feels positively about last night’s report that Apple is reportedly telling suppliers to make more foldable iPhone Ultra models.

Nikkei Asia reports that Apple upped its forecast from 7-8 million units to around 10 million units. For an iPhone that IDC predicts will have an average selling price of around $2500, that’s a strong signal.

Of course, the ultra-expensive…

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