Apple share price: Company helps developers finish WatchKit apps

on Feb 17, 2015
Updated: Oct 21, 2019
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Apple Inc (NASDAQ:AAPL), the world’s largest technology company, is helping developers finish applications for its upcoming smartwatch device, according to Apple-focused blog 9toMac.com. The blog reported yesterday that the company had invited dozens of developers to its headquarters in Cupertino, California. According to the report, development and design representatives from different development firms visited Apple last week or are going to Cupertino this week. One unnamed source cited by 9toMac said that the company was holding workshops for over 100 different developers across February. The tech giant had also met a smaller number of developers in January.

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The company is largely expected to release the Apple Watch, its first foray into the smartwatch category, in April and it undoubtedly wants to have a large roster of compelling apps for the device ready prior to the event. According to 9toMac, firms invited to Cupertino range from developers of sports application to productivity app makers. Also, Apple has reportedly been meeting with banks to work on assistant apps for the watch’s Apple Pay functionality.

In Friday’s trading, Apple shares closed 0.5 percent higher. The company’s market capitalisation currently stands at $740.2 billion. The stock has advanced 15.1 percent so far this year.
According to the Financial Times, the 41 analysts offering 12 month price targets for Apple have a median target of $135.00, with a high estimate of $160.00 and a low estimate of $60.00. As of February 14, 2015, the consensus forecast amongst 53 polled investment analysts covering Apple has it that the company will outperform the market. This stance has been maintained since September 29, 2011, when the sentiment of investment analysts deteriorated from “buy”, the FT notes.
As of 10:21 GMT, Tuesday, 17 February, Apple Inc. share price is $127.08.

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