Apple Inc. (AAPL) Extends Currency Swing Effects To Canada

For years Apple Inc. (NASDAQ:AAPL) has shown its customers how valuable just 99 cents could be, sincethat was the price tag for its Apps. However, that has changed and gone are the good old days when ‘a dollar for an App’ use to be the tune that many used to dance to. On Bloomberg, Shelby Holliday reported that now the Apps are going to be 20 cents more expensive. This would bring their price tag to $1.19.

“[..] The move is coming at a pretty interesting time. It is coming after Apple Inc. (NASDAQ:AAPL) had a tremendous year with its App Store. It marks one of Apple’s biggest global reactions to currency fluctuations in recent years and even though the company had tweaked prices in some countries a couple of years ago , this is the first time they have touched prices in Canada […],” reported Shelby Holliday.

The App prices still remain unchanged in U.S. as the currency remains strong against all other major currencies, but other countries haven’t been that lucky. Holliday also mentioned that since 60 percent of  Apple Inc. (NASDAQ:AAPL)’s revenues have the international stamp on them, the move  is going to have a significant impact on the company’s topline.

Although 20 cents is not that big a deal, but this move raises questions over the pricing of other Apple Inc. (NASDAQ:AAPL) products. Are they going to experience a similar fate as well, and most importantly how would that impact the company’s sales.

Apple Inc. (NASDAQ:AAPL) was up nearly 0.9 percent today and was trading at $110.22 at the end of the trading day. Many investors are keeping an eye out for the Apple  Watch, which is set to be released this year, and have high hopes from the tech giant’s latest innovation in wearable technology.

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