Apple (AAPL) – Research Analysts’ Weekly Ratings Changes
A number of firms have modified their ratings and price targets on shares of Apple (NASDAQ: AAPL) recently:
- Apple had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $107.00 price target on the stock. Zacks‘ analyst wrote, “Apple reported mixed third-quarter 2014 results with earnings comfortably beating the Zacks Consensus Estimate despite modest growth in revenues. Strong iPhone and Mac sales drove robust performance in China. The company’s growing market share in the BRIC countries as well as in the emerging nations is a major positive. The partnership with China Mobile will continue to boost iPhone sales in China. Although iPad reported a dismal quarter, its growing adoption in enterprises sector is positive. The partnership with IBM will improve Apple’s position in the enterprise market. However, the company continues to face significant competition from Asian handset makers, such as Samsung. Moreover, ongoing litigation issues remain an overhang on the stock. We, therefore, maintain our Neutral recommendation on the stock and set a price target of $107.00. “
- Apple had its price target raised by analysts at Nomura from $95.00 to $104.00. They now have a “neutral” rating on the stock.
- Apple had its price target raised by analysts at Piper Jaffray from $105.00 to $120.00. They now have an “overweight” rating on the stock.
- Apple is now covered by analysts at Oppenheimer. They set a “market perform” rating on the stock.
- Apple was downgraded by analysts at Pacific Crest to an “outperform” rating. They now have a $99.64 price target on the stock. They wrote, “Apple (AAPL) was falling -3.5% to $99.64 Wednesday following a research note from Pacific Crest.
In a note to investors Pacific Crest analyst Andy Hargreaves recommended that investors start taking profits before the iPhone maker’s Sept. 9 event. Hargreaves doubts that the rumored wearable, sometimes called the iWatch, and mobile payments system will “drive incremental profits that are meaningful at Apple’s scale in the near to medium term.”
The analyst maintained an “outperform” rating for Apple, though warned a downgrade could follow the Sept. 9 event if the company doesn’t show off products and services which “suggest massive incremental profit opportunities.”
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Shares of Apple Inc. (NASDAQ:AAPL) opened at 98.94 on Thursday. Apple Inc. has a 52 week low of $63.8886 and a 52 week high of $103.74. The stock’s 50-day moving average is $97.81 and its 200-day moving average is $87.06. The company has a market cap of $592.4 billion and a P/E ratio of 16.66. Apple also was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 95,116,846 shares, a decline of 8.1% from the July 31st total of 103,492,685 shares. Based on an average trading volume of 41,052,838 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.6% of the company’s stock are short sold.
Apple (NASDAQ:AAPL) last released its earnings data on Tuesday, July 22nd. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $37.43 billion for the quarter, compared to the consensus estimate of $37.80 billion. During the same quarter in the previous year, the company posted $7.47 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that Apple Inc. will post $6.33 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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