Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

A selection of Apple Inc’s MacBook Pro laptop models have been banned on flights by the US Federal Aviation Administration (FAA), after the tech giant recalled certain devices due to risk of battery fire.

Apple shares closed lower for the sixth time in the past eleven trading sessions on NASDAQ on Wednesday. It has also been the steepest daily loss since August 5th. The stock went down 2.98% ($6.22) to $202.75, after touching an intraday low at $202.56 and an intraday high at $206.46.

Shares of Apple Inc have added 28.53% to their value so far in 2019 compared with a 13.31% gain for the benchmark index, S&P 500 (SPX).

In 2018, Apple’s stock went down 6.79%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

In June, the tech company said that a limited number of 15-inch MacBook Pro laptops would be recalled, because their batteries could overheat.

“The FAA is aware of the recalled batteries that are used in some Apple MacBook Pro laptops,” a spokesperson for the FAA said in an emailed statement, cited by Reuters.

Analyst stock price forecast and recommendation

According to CNN Money, the 36 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $226.67, with a high estimate of $270.00 and a low estimate of $150.00. The median estimate represents an 11.80% upside compared to the closing price of $202.75 on August 14th.

The same media also reported that at least 19 out of 40 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 15 – as “Hold”. On the other hand, 4 analysts had recommended selling the stock.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • PACCAR announces $0.30 quarterly dividendPACCAR announces $0.30 quarterly dividend PACCAR Inc (NASDAQ: PCAR), a technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates, on Tuesday announced a regular quarterly […]
  • Copper fluctuates on Fed stimulus outlook, manufacturing dataCopper fluctuates on Fed stimulus outlook, manufacturing data Copper swung between gains and losses on Monday as market players weighed speculations the Federal Reserve might pare its bond purchases earlier than projected against overall upbeat manufacturing data from the Euro zone. A report by Chinas […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.2906-1.3015. The pair closed at 1.2959, edging up 0.39% on a daily basis. It has been the 46th gain in the past 90 trading days and also a second consecutive one. The daily high has been an […]
  • CRH announces the acquisition of Ary CorpCRH announces the acquisition of Ary Corp CRH PLC (NYSE: CRH) said on Monday that it had acquired Ary Corporation, a provider of building materials solutions based in Canon City, Colorado.Ary Corporation complements CRH’s Americas Materials Solutions business in the western […]
  • Zymeworks announces $50 million private placementZymeworks announces $50 million private placement Zymeworks Inc, a clinical-stage biopharmaceutical company, said on Tuesday that it had entered into a securities purchase agreement with funds affiliated with EcoR1 Capital LLC.Under the agreement, Zymeworks Inc will offer an […]
  • Delta Air Lines shares drop, company to suspend more US flightsDelta Air Lines shares drop, company to suspend more US flights Despite the strong beginning of the week on Monday, US stocks were lower in premarket Tuesday trading. Even though airline stocks gave investors hopes for economic recovery after resuming flights, Delta Air Lines declined more than 6% in […]