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Shares of Apple (NASDAQ:AAPL) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 16,857,739 shares, a drop of 9.5% from the April 30th total of 18,627,761 shares, ARN reports. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 8,690,913 shares, the days-to-cover ratio is currently 1.9 days.

A number of analysts have recently weighed in on AAPL shares. Analysts at RBC Capital raised their price target on shares of Apple from $645.00 to $675.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Nomura raised their price target on shares of Apple from $574.00 to $621.00 in a research note on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Apple from $635.00 to $720.00 in a research note on Friday. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $648.67.

Apple (NASDAQ:AAPL) opened at 628.65 on Tuesday. Apple has a one year low of $388.87 and a one year high of $644.17. The stock has a 50-day moving average of $584. and a 200-day moving average of $549.4. The company has a market cap of $541.5 billion and a price-to-earnings ratio of 15.17.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $11.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $10.13 by $1.49. The company had revenue of $45.65 billion for the quarter, compared to the consensus estimate of $43.55 billion. During the same quarter in the prior year, the company posted $10.09 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Apple will post $44.11 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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