Apple (AAPL) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 117

Apple (AAPL) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 117 from a previous price target of $115 . RBC Capital Mkts advised their investors in a research report released on Aug 11, 2016.

Many Wall Street Analysts have commented on Apple. Apple was Upgraded by Hilliard Lyons to ” Buy” on Jul 28, 2016. Company shares were Reiterated by Macquarie on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $112 .Apple was Upgraded by Raymond James to ” Outperform” on Jul 27, 2016.

On the company’s financial health, Apple reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $2.00. The company had revenue of $50557.00 million for the quarter, compared to analysts expectations of $51984.35 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.33 EPS.

Apple opened for trading at $107.52 and hit $108.37 on the upside on Monday, eventually ending the session at $108.37, with a gain of 0.83% or 0.89 points. The heightened volatility saw the trading volume jump to 2,80,37,220 shares. Company has a market cap of $583,946 M.

In a different news, on Aug 9, 2016, D Bruce Sewell (SVP, Gen’l Counsel, Secretary) sold 23,305 shares at $107.49 per share price. According to the SEC, on Aug 5, 2016, Chris Kondo (Principal Accounting Officer) sold 9,829 shares at $104.87 per share price. On Jul 20, 2016, Angela J Ahrendts (Senior Vice President) sold 35,797 shares at $100.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Apple Inc. (Apple) 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. The Company’s products and services include iPhone iPad Mac iPod Apple TV a portfolio of consumer and professional software applications the iOS and OS X operating systems iCloud and a variety of accessory service and support offerings. The Company also delivers digital content and applications through the iTunes Store App StoreSM iBookstoreSM and Mac App Store. The Company distributes its products worldwide through its retail stores online stores and direct sales force as well as through third-party cellular network carriers wholesalers retailers and value-added resellers. In February 2012 the Company acquired app-search engine Chomp.


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