Apple shares touch a fresh all-time high on Monday, tech giant confirms acquisition of Texture digital magazine subscription app

March 13, 2018 10:59 am

Apple was reported to have confirmed its acquisition of digital magazine subscription app Texture. However, the terms of the deal have not yet been disclosed. Apple is acquiring the entire company, including its staff and, so far, has not indicated that it will introduce changes, Seeking Alpha reported.

Apple shares closed higher for a third consecutive trading session on Monday. The stock went up 0.97% ($1.74) to $181.72, after touching an intraday high at $182.39 and also a fresh all-time high.

In the week ended on March 11th the shares of the technological company added 2.14% to their market value compared to a week ago, which marked a fourth consecutive period of gains.

The stock has extended its advance to 2.02% so far during the current month, following a 6.38% surge in February. The latter has been the first gain out of three months and also the largest one since October 2017.

For the entire past year, the shares of the NASDAQ-listed tech company rose 46.11% following another 10.03% surge in 2016.

“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers”, Eddy Cue, Apple’s senior vice president of Internet Software and Services, was quoted as saying by TechCrunch.

“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users”, he added.

“I’m thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple”, John Loughlin, Chief Executive of Next Issue Media / Texture, said in a statement.

“The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited with this development. We could not imagine a better home or future for the service”, Loughlin said.

According to CNN Money, the 31 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $198.00, with a high estimate of $220.00 and a low estimate of $152.00. The median estimate is an 8.96% surge compared to the closing price of $181.72 on March 12th.

The same media also reported that 22 out of 39 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 13 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Apple stock are presented as follows:

R1 – $181.92
R2 – $182.12
R3 (Range Resistance – Sell) – $182.32
R4 (Long Breakout) – $182.92
R5 (Breakout Target 1) – $183.62
R6 (Breakout Target 2) – $183.92

S1 – $181.52
S2 – $181.32
S3 (Range Support – Buy) – $181.12
S4 (Short Breakout) – $180.52
S5 (Breakout Target 1) – $179.82
S6 (Breakout Target 2) – $179.52

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $178.08
R1 – $181.90
R2 – $183.81
R3 – $187.63
R4 – $191.44

S1 – $176.17
S2 – $172.35
S3 – $170.44
S4 – $168.52

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