Apple PT Raised to $540.00 (AAPL)
Investment analysts at Barclays Capital raised their target price on shares of Apple (NASDAQ:AAPL) from $525.00 to $540.00 in a note issued to investors on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price objective points to a potential upside of 10.06% from the company’s current price.
The analysts wrote, “As a result of better-than-expected unit sales for the iPhone near term and better response from carriers and consumers, we are raising our estimates and boosting our target price to $540. We believe that while supply of iPhone 5S models are relatively low, Apple should be able to ramp production quickly and can launch the phone globally momentum even into the March quarter – especially if China Mobile is added to the carrier line-up, which seems likely. We maintain our Overweight rating.”
A number of other firms have also recently commented on AAPL. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Tuesday. They now have a $560.00 price target on the stock, up previously from $530.00. Separately, analysts at Susquehanna upgraded shares of Apple (NASDAQ:AAPL) from a “neutral” rating to a “positive” rating in a research note to investors on Tuesday. They now have a $625.00 price target on the stock, up previously from $440.00. Finally, analysts at Deutsche Bank raised their price target on shares of Apple (NASDAQ:AAPL) to $575.00 in a research note to investors on Monday.
Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-eight have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $551.05.
Apple (NASDAQ:AAPL) traded up 0.14% during mid-day trading on Tuesday, hitting $491.35. 6,128,933 shares of the company’s stock traded hands. Apple has a 52 week low of $385.10 and a 52 week high of $692.78. The stock has a 50-day moving average of $483.8 and a 200-day moving average of $446.. The company has a market cap of $446.4 billion and a price-to-earnings ratio of 12.23. Apple also was the recipient of unusually large options trading activity on Monday. Investors purchased 280,512 call options on the company. This is an increase of 653% compared to the average volume of 37,232 call options.
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 $39.17 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.
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