Apple Earns “Buy” Rating from Cantor Fitzgerald (AAPL)
Shares of Apple (NASDAQ:AAPL) opened at 98.94 on Thursday. Apple has a 52 week low of $63.8886 and a 52 week high of $103.74. The stock has a 50-day moving average of $97.81 and a 200-day moving average of $87.06. The company has a market cap of $592.4 billion and a P/E ratio of 15.96. Apple also was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 95,116,846 shares, a drop of 8.1% from the July 31st total of 103,492,685 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 41,052,838 shares, the days-to-cover ratio is currently 2.3 days.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $7.47 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Apple will post $6.33 earnings per share for the current fiscal year.
A number of other firms have also recently commented on AAPL. Analysts at Susquehanna reiterated a “sell” rating on shares of Apple in a research note on Thursday. Separately, analysts at Pacific Crest downgraded shares of Apple to an “outperform” rating in a research note on Wednesday. They now have a $99.64 price target on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of Apple in a research note on Wednesday. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $101.87.
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.
Receive News & Ratings for Apple Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.