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06-03-2014, 02:11 PM #1
Wall Street Happy with News out of WWDC 14
On Monday, Apple didn't unveil a new iPhone, Mac or anything from a previously untapped product category. But the company's impressive demonstration of what's next for iOS and new version of Mac OS X was sufficient to excite Wall Street.
As the closing bell approaches, shares of Apple are up close to $9 on the day, topping $637 as we enter the final moments of trading for Tuesday.
Of course, investors are happy about more than just the new features unveiled during yesterday's keynote. Apple CEO Tim Cook's jabs at Android and impressive growth touted in China continue to ring loudly in the ears of many on Wall Street this afternoon.
Yesterday, we learned that half of Apple's Chinese customers have switched from Android to iPhone in the last six months alone. If that trend continues, it will represent a huge revenue surge for Apple. "They [Chinese consumers] bought an Android phone, by mistake, then sought a better experience, and life," Cook joked during his opening remarks.
Apple's iOS may still not be the world's most prevent OS, but its achievements are still massive and enough to keep investors optimistic as Apple gears up for the second half of 2014.