Apple Price Target Increased to $600.00 by Analysts at Telsey Advisory Group (AAPL)
Stock analysts at Telsey Advisory Group increased their price objective on shares of Apple (NASDAQ:AAPL) to $600.00 in a report issued on Wednesday, AnalystRatingsNetwork.com reports. Telsey Advisory Group’s price objective would indicate a potential upside of 21.30% from the company’s current price.
A number of other analysts have also recently weighed in on AAPL. Analysts at Lazard Capital Markets set a $570.00 price target on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $530.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” 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.
Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, forty have issued a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $551.46.
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’s 50-day moving average is $478.3 and its 200-day moving average is $443.9. The company has a market cap of $449.4 billion and a P/E ratio of 12.33. Apple also saw unusually large options trading activity on Monday. Stock traders purchased 163,410 call options on the company. This is an increase of 345% compared to the average daily volume of 36,746 call options.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 in the prior year, the company posted $9.32 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Apple will post $39.08 EPS for the current fiscal year.
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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