The recent media reports confirms that General Electric Company (NYSE:GE) is teaming up with Apple Inc. (NASDAQ:AAPL) to develop mobile apps. And these are not simple apps but can be used for managing machinery, factories and power plants, as the industrial giant, General Electric Company (GE) steps up efforts to sell software and services.
On Oct. 26, Boston-based company, General Electric Company (NYSE:GE) will publish a toolkit it has built with General Electric Company (NYSE:GE), to help out the developers to build software for iPhones and iPads, that uses its Predix data-collection and analysis tool, said in an interview by the head of sales at GE’s digital division, Kevin Ichhpurani.
Ichhpurani said, “More of the customers in the industrial world want to drive mobile experiences to their end users,” “Employees within those enterprises want those same experiences that they have in a consumer world.” Apple Inc. (NASDAQ:AAPL) in this partnership with General Electric Company (NYSE:GE) is making Predix its preferred tool for connected factories.
“GE is an ideal partner with a rich history of innovation across the industrial world in areas like aviation, manufacturing, healthcare and energy,” said Tim Cook, Apple’s CEO. “Together, Apple and GE are fundamentally changing how the industrial world works by combining GE’s Predix platform with the power and simplicity of iPhone and iPad.”
“The partnership between Apple and GE is providing developers with the tools to make their own powerful industrial IoT apps,” said John Flannery, Chairman and CEO, GE. “Our customers increasingly need to arm their workforces through mobility. Working together, GE and Apple are giving industrial companies access to powerful apps that help them tap into the predictive data and analytics of Predix right on their iPhone or iPad.”
General Electric Company (NYSE:GE) could get a jump on competitors like France’s Schneider Electric, Germany’s Siemens AG, and Switzerland’s ABB Ltd, thanks to the partnership, and who have been also adding software and data-analysis offerings.
Apple Inc. (NASDAQ:AAPL)’s stock on Wednesday traded at beginning with a price of $160.42 and when day-trade ended the stock finally moved down -0.44% to reach at $159.76. Analyst’s mean target price for AAPL is $172.35 while analysts mean recommendation is 1.90. Stock value has moved between $103.74 – 164.7 in last one year.
Analyst’s ratings play a very important role in outlining a stock’s performance. Let us check out how analysts have ranked AAPL based on current scenarios. Stock has got OUTPERFORM rating from 16 analyst(s) whereas last month 16 analyst(s) have given outperform rating. SELL rating has been given by 0 analyst(s) and 15 analyst(s) given BUY rating to the stock. Company fiscal year is ending in September and analysts’ consensus recommendation is Outperform for AAPL and estimated EPS for next quarter is $ 1.87 .
Apple Inc. (NASDAQ:AAPL) yearly performance is 36.00% and net profit margin is 20.90%. Annual EPS Growth of past 5 years is 16.00%. The current share price indicates that stock is -3.14% away from its one year high and is moving 53.50% ahead of its 52-week low.
On 18 October 2017, General Electric Company (NYSE:GE) stock price started the day at $23.20 and moved between $23.07 – 23.28 to finally close at $23.12. GE’s distance from 20 day simple moving average is -4.06% and distance from 50-Day simple moving average is -5.24%. In last 4 months performance of GE was -13.38% while its price to sale ratio is 1.68 and price to book ratio is 2.70.
Analysts expect General Electric Company (NYSE:GE) to report $ 0.54 EPS and has got OUTPERFORM rating from 3 of Thomson Reuters analysts and 1 analyst(s) given UNDERPERFORM rating. Analyst’s mean target price for GE is $29.08 while analysts mean recommendation is 2.30. Firm LT growth rate is estimated as 9.32 %.