Apple’s Sell Rating Reaffirmed at Susquehanna (AAPL)
A number of other firms have also recently commented on AAPL. 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. Separately, analysts at Oppenheimer initiated coverage on shares of Apple in a research note on Wednesday. They set a “market perform” rating on the stock. Finally, analysts at Nomura raised their price target on shares of Apple from $95.00 to $104.00 in a research note on Tuesday. They now have a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $101.87.
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 saw a significant decline in short interest in the month of 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. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading 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 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $7.47 earnings per share. Apple’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Apple will post $6.33 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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