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Apple Inc (NASDAQ: AAPL) – Analysts’ Views Change

In the last trading session, 41.01 million Apple Inc (NASDAQ:AAPL) shares changed hands as the company’s beta touched 1.31. With the company’s per share price at $187.15 changed hands at -$1.7 or -0.90% during last session, the market valuation stood at $2889.95B. AAPL’s last price was a discount, traded about -6.66% off its 52-week high of $199.62. The share price had its 52-week low at $143.90, which suggests the last value was 23.11% up since then. When we look at Apple Inc’s average trading volume, we note the 10-day average is 57.31 million shares, with the 3-month average coming to 0.77.

Apple Inc (NASDAQ:AAPL) trade information

Instantly AAPL was in red as seen at the end of in last trading. With action -0.28%, the performance over the past five days has been red. The drop to weekly highs of 191.05 subtracted -0.90% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.79%, with the 5-day performance at -0.28% in the red. However, in the 30-day time frame, Apple Inc (NASDAQ:AAPL) is 0.84% up. Looking at the short shares, we see there were 99.24 million shares sold at short interest cover period of 1.76 days.

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Apple Inc (AAPL) estimates and forecasts

Data shows that the Apple Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 5.26% over the past 6 months, a 7.01% in annual growth rate that is considerably lower than the industry average of 10.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Apple Inc will fall -0.70%, while the growth in revenue is estimated to hit 4.80% for the next quarter. Year-over-year growth is forecast to reach 1.30% up 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 $90.99 billion. 23 analysts are of the opinion that Apple Inc’s revenue for the quarter ending Jun 2024 will be $83.9 billion.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.55%. The 2024 estimates are for Apple Inc earnings to increase by 7.35%, but the outlook for the next 5-year period is at 11.00% per year.

AAPL Dividends

Apple Inc is expected to release its next quarterly earnings report between May 02 and May 06. The 0.51% annual yield figure for the share gives it an annual dividend of 0.96. It is important to note, however, that the 0.51% 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 6.00% of Apple Inc shares while 56.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 59.64%. There are 56.06% institutions holding the Apple Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 8.42% of the shares, roughly 1.3 billion AAPL shares worth $243.29 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.68% or 1.03 billion shares worth $193.03 billion as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 462.5 million shares estimated at $86.56 billion under it, the former controlled 3.00% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.29% of the shares, roughly 353.16 million shares worth around $66.09 billion.

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