Apple Target of Unusually High Options Trading (AAPL)
Shares of Apple (NASDAQ:AAPL) was the recipient of unusually large options trading activity on Wednesday. Traders bought 102,711 put options on the stock, Stock Ratings Network reports. This is an increase of 626% compared to the typical volume of 14,141 put options.
A number of research firms have recently commented on AAPL. Analysts at Scotiabank cut their price target on shares of Apple (NASDAQ:AAPL) from $510.00 to $500.00 in a research note to investors on Wednesday. Separately, analysts at Raymond James raised their price target on shares of Apple (NASDAQ:AAPL) from $600.00 to $675.00 in a research note to investors on Wednesday. They now have a “strong-buy” rating on the stock. Finally, analysts at Merrill Lynch downgraded shares of Apple (NASDAQ:AAPL) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday.
Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, forty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $552.79.
Shares of Apple (NASDAQ:AAPL) traded down 5.44% on Wednesday, hitting $467.71. 32,074,196 shares of the company’s stock traded hands. 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 $424.9 billion and a P/E ratio of 12.33.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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. 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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