Apple Stock Rating Reaffirmed by Goldman Sachs Group Inc. (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “buy” rating restated by Goldman Sachs Group Inc. in a research note issued on Tuesday, StockRatingsNetwork.com reports. They currently have a $560.00 price objective on the stock, up from their previous price objective of $530.00. Goldman Sachs Group Inc.’s target price suggests a potential upside of 14.14% from the stock’s previous close.
Shares of Apple (NASDAQ:AAPL) opened at 490.64 on Tuesday. Apple has a 1-year low of $385.10 and a 1-year high of $692.78. The stock’s 50-day moving average is $483.8 and its 200-day moving average is $446.. The company has a market cap of $445.7 billion and a P/E ratio of 12.23. Apple also saw some unusual options trading on Monday. Stock investors acquired 280,512 call options on the stock. This is an increase of approximately 653% compared to the average daily volume of 37,232 call options.
Apple (NASDAQ:AAPL) last released its earnings data on Tuesday, July 23rd. The company reported $7.47 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $9.32 earnings per share. Apple’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Apple will post $39.17 earnings per share for the current fiscal year.
AAPL has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Monday. They now have a $525.00 price target on the stock, down previously from $550.00.
Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-eight have assigned a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $550.68.
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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