Apple Target of Unusually High Options Trading (AAPL)
Apple (NASDAQ:AAPL) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 283,222 put options on the stock, AR Network reports. This is an increase of approximately 146% compared to the average daily volume of 115,089 put options.
A number of analysts have recently weighed in on AAPL shares. Analysts at Wells Fargo & Co. downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $536.00 price target on the stock, down previously from $580.00. They noted that the move was a valuation call. Separately, analysts at S&P Equity Research reiterated a “buy” rating on shares of Apple in a research note to investors on Monday. Finally, analysts at TheStreet raised their price target on shares of Apple from $700.00 to $1,111.00 in a research note to investors on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $604.92.
Apple (NASDAQ:AAPL) traded down 2.20% on Friday, hitting $540.98. The stock had a trading volume of 14,033,347 shares. Apple has a 52 week low of $385.10 and a 52 week high of $575.14. The stock’s 50-day moving average is $548. and its 200-day moving average is $490.8. The company has a market cap of $486.7 billion and a price-to-earnings ratio of 13.92.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Monday, October 28th. The company reported $8.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.86 by $0.40. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $36.84 billion. During the same quarter in the previous year, the company posted $8.67 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Apple will post $43.71 earnings per share 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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