Apple Given “Buy” Rating at Deutsche Bank (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by stock analysts at Deutsche Bank in a report issued on Wednesday, AnalystRatingsNetwork.com reports. They currently have a $480.00 price objective on the stock. Deutsche Bank’s price objective would indicate a potential downside of 2.96% from the stock’s previous close.
Apple (NASDAQ:AAPL) opened at 494.64 on Wednesday. Apple has a 1-year low of $385.10 and a 1-year high of $705.07. The stock has a 50-day moving average of $478.3 and a 200-day moving average of $443.9. The company has a market cap of $449.4 billion and a P/E ratio of 12.33. Apple also was the recipient of unusually large options trading activity on Monday. Stock investors bought 163,410 call options on the company. This is an increase of approximately 345% compared to the typical daily volume of 36,746 call options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $7.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter last year, the company posted $9.32 earnings per share. Apple’s revenue was up .9% compared to the same quarter last year. Analysts expect that Apple will post $39.08 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “neutral” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $480.00 price target on the stock, up previously from $420.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $450.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $550.00 price target on the stock, up previously from $530.00.
Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, forty have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $550.18.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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