Apple Inc. (AAPL) Doesn’t Dislike Old iPhone Users After All – Update 9.2.1 Speeds up Old Hardware

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For a while now people have been complaining that Apple Inc. (NASDAQ:AAPL) simply doesn’t care for those customers who run old versions of their hardware. I’m talking about those individuals who still own an iPhone 4S or 5 — those individuals who are reluctant to upgrade to the latest version. Over the past couple of years, these older devices have become slower and slower with each new iOS update issued by Apple, so much so that customers were arguing that the company was unfairly manipulating them into needed new smartphones. Whether it be the case or not, Apple has now taken steps to try and speed up those older iPhones, rather than slow them down with a new iOS release.

Say hello to iOS 9.2.1, a version that is said to bring a performance boost to the older iPhones, particularly those still running the outdated iOS 8 (still around 19% of iPhones on the market). As you can see in the video below by iAppleBytes, there are still instances where the older version seems to perform better than the new one but Apple says that the compression is definitely upgraded.

iOS 9.2.1 was just released this past Tuesday, and is available now for download. Could this be a move on Apple Inc. (NASDAQ:AAPL)’s behalf to prove that they don’t intentially try and slow down older hardware? Regardless, there will be a lot of happy folks out there, thanks to this update.

The stock increased 0.04% or $0.04 during the last trading session, hitting $96.83. About 94,243 shares traded hands. AAPL has declined 24.15% since June 16, 2015 and is downtrending. It has underperformed the S&P500 by 15.28%.

From a total of 32 analysts covering Apple Inc. (NASDAQ:AAPL) stock, 28 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 88% of the ratings are positive. The highest target price is $200 while the lowest target price is $102. The mean of all analyst targets is $142.97 which is 47.65% above today’s ($96.83) stock price. Apple Inc. was the topic of 105 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on January 11 with a “Hold” rating. Stifel Nicolaus maintained shares with a”Buy” rating and a $140 target share price in their report from a December 23. Mizuho upgraded AAPL stock in a recent report from January 11 to a “Buy” rating. Barclays Capital maintained the rating on December 14. Barclays Capital has a “Overweight” rating and a $150 price target on shares. Finally, Canaccord Genuity maintained the stock with a “Buy” rating in a report they issued on a January 8.

The institutional sentiment increased to 1.18 in Q2 2015. It’s up 0.22, from 0.96 in 2015Q2. The ratio increased, as 103 funds sold all their Apple Inc. shares they owned while 854 reduced their positions. 102 funds bought stakes while 1032 increased their total positions. Institutions now own 3.20 billion shares which is 1.58% less than the previous share count of 3.25 billion in 2015Q2.

Compton Capital Management Inc Ri holds 45.15% of its total portfolio in Apple Inc., equating to 113,694 shares. Raiff Partners Inc owns 100,000 shares representing 32.27% of their total US portfolio. Moreover, Rfg Advisory Group Llc has 25.06% of their total portfolio invested in the company, equating to 70,558 shares. The New York-based Independent Investors Inc has a total of 23.66% of their portfolio invested in the stock. Dock Street Asset Management Inc, a Connecticut-based fund reported 269,584 shares owned.

Since March 6, 2015, the stock had 0 insider purchases, and 6 sales for a total of $11.59 million in net activity. Maestri Luca sold 2,908 shares worth $325,347. Williams Jeffrey E sold 46,873 shares worth $5.18M. Riccio Daniel J. sold 24,085 shares worth $3.01M. Ahrendts Angela J sold 44,789 shares worth $5.90 million. The insider Levinson Arthur D sold 70,000 shares worth $9.20 million.

Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market cap of $536.65 billion. The Company’s services and products include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. It has 10.53 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.

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