Apple Price Target Lowered to $98.00 at BMO Capital Markets (AAPL)
BMO Capital Markets lowered their target price on shares of Apple (NASDAQ:AAPL) from $685.00 to $98.00 in a research note issued on Friday. BMO Capital Markets’ price target suggests a potential upside of 6.19% from the stock’s previous close.
AAPL has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Apple from $96.00 to $100.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Apple in a research note on Wednesday. They now have a $105.00 price target on the stock, up previously from $92.86. Finally, analysts at Monness Crespi & Hardt raised their price target on shares of Apple from $93.00 to $100.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $108.68.
Shares of Apple (NASDAQ:AAPL) traded down 0.94% during mid-day trading on Friday, hitting $91.42. The stock had a trading volume of 39,044,684 shares. Apple has a 52-week low of $55.5529 and a 52-week high of $95.05. The stock’s 50-day moving average is $87.37 and its 200-day moving average is $79.51. The company has a market cap of $551.2 billion and a P/E ratio of 15.48. Apple also saw some unusual options trading activity on Thursday. Investors purchased 604,654 call options on the stock. This is an increase of 104% compared to the typical volume of 296,070 call options.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $10.09 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Apple will post $6.31 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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