In the latest trading session, 19.7 million Apple Inc. (NASDAQ:AAPL) shares changed hands as the company’s beta touched 1.28. With the company’s most recent per share price at $177.26 changing hands around $2.25 or 1.28% at last look, the market valuation stands at $2782.81B. AAPL’s current price is a discount, trading about -11.83% off its 52-week high of $198.23. The share price had its 52-week low at $124.17, which suggests the last value was 29.95% up since then. When we look at Apple Inc.’s average trading volume, we note the 10-day average is 75.45 million shares, with the 3-month average coming to 58.12 million.
Analysts gave the Apple Inc. (AAPL) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 2 out of 45 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 13 recommended AAPL as a Hold, 25 felt it is a Buy and 1 rated the stock as Underweight. Apple Inc.’s EPS for the current quarter is expected to be $1.3.
Apple Inc. (NASDAQ:AAPL) trade information
Instantly AAPL is in green as seen in intraday trades today. With action -1.17%, the performance over the past five days has been red. The jump to weekly highs of 180.13 on Friday, 09/15/23 added 1.28% to the stock’s daily price. The company’s shares are showing year-to-date upside of 36.42%, with the 5-day performance at -1.17% in the red. However, in the 30-day time frame, Apple Inc. (NASDAQ:AAPL) is 1.87% up. Looking at the short shares, we see there were 102.09 million shares sold at short interest cover period of 1.8 days.
The consensus price target for the stock as assigned by Wall Street analysts is $200.72, meaning bulls need an upside of 11.69% from its recent market value. According to analyst projections, AAPL’s forecast low is $125.00 with $240.00 as the target high. To hit the forecast high, the stock’s price needs a -35.39% plunge from its current level, while the stock would need to tank 29.48% for it to hit the projected low.
Apple Inc. (AAPL) estimates and forecasts
Data shows that the Apple Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 14.36% over the past 6 months, a -0.98% in annual growth rate that is considerably higher than the industry average of -7.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Apple Inc. will rise 0.80%, while the growth in revenue is estimated to hit 5.30% for the next quarter. Year-over-year growth is forecast to reach -9.00% down from the last financial year.
Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of $83.58 billion. 23 analysts are of the opinion that Apple Inc.’s revenue for the quarter ending Dec 2023 will be $115.81 billion. The company’s revenue for the corresponding quarters a year ago was $90.15 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.60%. The 2023 estimates are for Apple Inc. earnings to increase by 8.90%, but the outlook for the next 5-year period is at 6.37% per year.
Apple Inc. is expected to release its next quarterly earnings report between October 25 and October 30. The 0.54% annual yield figure for the share gives it an annual dividend of 0.96. It is important to note, however, that the 0.54% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Apple Inc. (NASDAQ:AAPL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.07% of Apple Inc. shares while 61.32% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 61.36%. There are 61.32% institutions holding the Apple Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.34% of the shares, roughly 1.3 billion AAPL shares worth $231.01 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.65% or 1.04 billion shares worth $184.22 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 465.99 million shares estimated at $82.57 billion under it, the former controlled 2.98% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.25% of the shares, roughly 352.02 million shares worth around $62.38 billion.