Apple Inc. (NASDAQ:AAPL)’s traded shares stood at 10.88 million during the latest session, with the company’s beta value hitting 1.29. At the last check today, the stock’s price was $178.44, to imply an increase of 0.35% or $0.62 in intraday trading. The AAPL share’s 52-week high remains $184.95, putting it -3.65% down since that peak but still an impressive 30.41% since price per share fell to its 52-week low of $124.17. The company has a valuation of $2783.59B, with an average of 69.12 million shares in intraday trading volume over the past 10 days and average of 59.73 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Apple Inc. (AAPL), translating to a mean rating of 2.00. Of 42 analyst(s) looking at the stock, 1 analyst(s) give AAPL a Sell rating. 6 of those analysts rate the stock as Overweight while 12 advise Hold as 23 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.19.
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After registering a 0.35% upside in the latest session, Apple Inc. (AAPL) has traded red over the past five days. The stock hit a weekly high of 184.95 this Wednesday, 06/07/23, jumping 0.35% in its intraday price action. The 5-day price performance for the stock is -0.92%, and 3.88% over 30 days. With these gigs, the year-to-date price performance is 37.34%. Short interest in Apple Inc. (NASDAQ:AAPL) saw shorts transact 109.88 million shares and set a 2 days time to cover.
Analysts on Wall Street suggest a consensus price target of $186.27, implying an increase of 4.2% to the stock’s recent value. The extremes give us $140.00 and $220.00 for target low and target high price respectively. As such, AAPL has been trading -23.29% off suggested target high and 21.54% from its likely low.
Apple Inc. (AAPL) estimates and forecasts
Looking at statistics comparing Apple Inc. share performance against respective industry, we note that the company has underperformed competitors. Apple Inc. (AAPL) shares are 24.86% up over the last 6 months, with its year-to-date growth rate lower than industry average at -1.96% against 0.10%. Revenue is forecast to shrink -0.80% this quarter before jumping 5.40% for the next one. The rating firms project that company’s revenue will shrink -2.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 24 analysts is $81.51 billion. Meanwhile, for the quarter ending Sep 2023, a total of 24 analyst(s) estimate revenue growth to $90.46 billion.Earnings reports from the last fiscal year show that sales brought in $82.96 billion and $90.15 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -1.70% before jumping 0.40% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 21.60% for the past 5-year period. While 2023 is set for a 8.90% return in earnings, projections for the next 5 years are at 8.02% annually.
Apple Inc. has its next earnings report out between July 26 and July 31. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Apple Inc. has a forward dividend ratio of 0.96, with the share yield ticking at 0.54% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Apple Inc. (NASDAQ:AAPL)’s Major holders
Apple Inc. insiders hold 0.07% of total outstanding shares, with institutional holders owning 61.23% of the shares at 61.27% float percentage. In total, 61.23% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Mar 30, 2023, the company held over 1.31 billion shares (or 8.33% of shares), all amounting to roughly $234.16 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 1.04 billion shares, or about 6.58% of shares outstanding. As of the market price on Mar 30, 2023, these shares were worth $185.03 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Apple Inc. (AAPL) shares. Going by data provided on Dec 30, 2022, Vanguard Total Stock Market Index Fund holds roughly 459.39 million shares. This is just over 2.90% of the total shares, with a market valuation of $82.13 billion. Data from the same date shows that the other fund manager holds a little less at 345.69 million, or 2.18% of the shares, all valued at about 61.8 billion.