Business Report: Snapchat stocks rise, Apple releases latest update
The social media app Snapchat’s stocks surged, and Apple has finally released its latest update.
Shares of Snap Inc. surged on Monday after analysts from Citi, Morgan Stanley, Goldman Sachs and others gave the stock a buy rating with price targets as high as $31 per share.
Snap Inc. peaked around $27 soon after its IPO on March 2nd, but eventually fell below $20 due to negative analyst sentiment.
Snap Inc. is in the early stages of monetizing Snapchat.
It is still unclear whether its young user base will stick around if ads start showing up more frequently.
In other business news, Apple has finally released its iOS 10.3 update.
The new software is available as an over the air download or through iTunes on a Mac or PC.
It is compatible with 19 different apple devices, even older devices such as the iPhone 5, iPad mini 2 and 6th generation iPod touch.
Among the new features it offers, a new find my airpods option, improvements to Carplay and a new Apple file system.