Apple share price: Mobile payment system may launch this week

on Oct 13, 2014
Updated: Oct 21, 2019
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iNVEZZ.com, Monday, October 13: Apple Inc (NASDAQ:AAPL), the world’s largest technology company, could launch its recently-announced mobile payment system as early as this week, reports in the media have suggested.

The Cupertino-based company unveiled Apple Pay in September, saying that it would become available in the US this month, but it did not provide a specific date for the launch. A recently leaked memo to employees of Walgreens has suggested that the retail chain will adopt the service on Saturday, October 18. This would be two days after Apple’s planned special event in Cupertino, at which the company is expected to announce new tablets, Mac computers and a new OS X operating system (). As some reports have noted, Apple could use the event to announce the launch of its mobile payment system, as well.

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In today’s trading, Apple shares were up one percent at $101.71 shortly after the opening bell in New York.
**Training**
Apple-focused technology blog 9to5mac.com yesterday published documents, which revealed that Apple’s retail employees will have to take an hour of training this week to learn about the payment system. The documents, which the blog said it had obtained from a “reliable source”, also revealed that the payment system was already adopted at Apple’s Caffe Macs restaurant at its headquarters, and detailed some specifics about the transaction process.

According to screenshots published by 9to5mac, Apple Pay can be set up either through the Passbook app or through a new option in the Settings menu called Passbook & Apple Pay. Users will be able to add credit cards to Passbook via an iTunes account or by using the iPhone’s camera to scan in details. Apple Pay will be able to store information about recent transactions for each card, amongst other features.

**Analysts on Apple**
According to the Financial Times, the 44 analysts offering 12 month price targets for Apple have a median target of $110.00, with a high estimate of $139.00 and a low estimate of $60.00. As of October 10, 2014, the consensus forecast amongst 86 polled investment analysts covering Apple has it that the company will outperform the market. The same consensus estimate has been maintained since the sentiment of investment analysts deteriorated on September 29, 2011, the FT notes.
**As of 15:47 BST buy Apple shares at $101.32**
**As of 15:47 BST sell Apple shares at $101.30**

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