Apple Target of Unusually High Options Trading (AAPL)
Apple (NASDAQ:AAPL) was the recipient of some unusual options trading activity on Wednesday. Traders bought 130,315 put options on the stock, AnalystRatingsNetwork reports. This represents an increase of approximately 862% compared to the typical daily volume of 13,545 put options.
A number of research firms have recently commented on AAPL. Analysts at Morgan Stanley reiterated a “positive” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Tuesday. Finally, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Monday.
Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, forty have issued a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $542.55.
Shares of Apple (NASDAQ:AAPL) traded up 2.06% during mid-day trading on Wednesday, hitting $464.68. 16,252,946 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’s 50-day moving average is $480.9 and its 200-day moving average is $444.6. The company has a market cap of $422.2 billion and a P/E ratio of 11.35.
Apple (NASDAQ:AAPL) last announced its 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 $39.17 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.