Apple (AAPL) is Reiterated by Citigroup to Buy, Raises Price Target to $ 130

Apple (AAPL) was Reiterated by Citigroup to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 130 from a previous price target of $120 . Citigroup advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Apple. Company shares were Reiterated by Nomura on Sep 22, 2016 to “Buy”, Firm has raised the Price Target to $ 135 from a previous price target of $120 .Company shares were Reiterated by RBC Capital Mkts on Sep 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $120 .Company shares were Reiterated by UBS on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 127 from a previous price target of $115 .

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 $113 and hit $113.18 on the upside on Tuesday, eventually ending the session at $113.09, with a gain of 0.19% or 0.21 points. The heightened volatility saw the trading volume jump to 2,46,07,412 shares. Company has a market cap of $609,379 M.

In a different news, on Sep 23, 2016, Daniel J. Riccio (Senior Vice President) sold 22,381 shares at $113.28 per share price. According to the SEC, on Aug 31, 2016, Timothy D Cook (Chief Executive Officer) sold 269,883 shares at $106.58 per share price. On Aug 18, 2016, D Bruce Sewell (SVP, Gen’l Counsel, Secretary) sold 24,000 shares at $110.11 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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