Apple Downgraded to Hold at Societe Generale (AAPL)
Apple (NASDAQ:AAPL) was downgraded by equities research analysts at Societe Generale from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $575.00 price target on the stock. Societe Generale’s target price would suggest a potential upside of 4.72% from the company’s current price.
Apple (NASDAQ:AAPL) traded up 1.55% on Tuesday, hitting $549.07. 11,750,792 shares of the company’s stock traded hands. Apple has a 52 week low of $385.10 and a 52 week high of $575.14. The stock has a 50-day moving average of $553.9 and a 200-day moving average of $503.1. The company has a market cap of $494.0 billion and a price-to-earnings ratio of 13.60.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of Apple in a research note to investors on Wednesday, January 15th. They now have a $581.00 price target on the stock. Separately, analysts at Standpoint Research downgraded shares of Apple from a “hold” rating to a “sell” rating in a research note to investors on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $606.90.
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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