Traders Purchase Large Volume of Apple Put Options (AAPL)
Apple (NASDAQ:AAPL) was the target of some unusual options trading activity on Friday. Investors acquired 175,450 put options on the stock, AnalystRatings.Net reports. This represents an increase of 977% compared to the average daily volume of 16,285 put options.
Several analysts have recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Apple (NASDAQ:AAPL) to $425.00 in a research note to investors on Friday. Separately, analysts at Scotiabank reiterated a “sector perform” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Thursday. Finally, 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.
Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, forty have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $544.80.
Apple (NASDAQ:AAPL) traded down 1.65% on Friday, hitting $464.90. 10,667,004 shares of the company’s stock traded hands. Apple has a 52 week low of $385.10 and a 52 week high of $705.07. The stock has a 50-day moving average of $480.6 and a 200-day moving average of $444.3. The company has a market cap of $422.4 billion and a P/E ratio of 11.79.
Apple (NASDAQ:AAPL) last released its 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. Analysts expect that Apple will post $39.10 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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