Apple Stock Rating Reaffirmed by Goldman Sachs Group Inc. (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities research analysts at Goldman Sachs Group Inc. in a research note issued to investors on Wednesday, American Banking & Market News reports. They currently have a $530.00 price objective on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 7.15% from the stock’s previous close.
Apple (NASDAQ:AAPL) opened at 494.64 on Wednesday. Apple has a one year low of $385.10 and a one 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 investors purchased 163,410 call options on the stock. This is an increase of 345% compared to the average volume of 36,746 call options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $7.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $9.32 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Apple will post $39.08 earnings per share for the current fiscal year.
A number of other firms have also recently commented on AAPL. 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. Separately, 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. Finally, 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.
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 given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target 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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