Apple (AAPL) is Initiated by Longbow to Buy, Price Target at $125

Apple (AAPL) was Initiated by Longbow to “Buy” and the brokerage firm has set the Price Target at $125. Longbow advised their investors in a research report released on Jul 6, 2016.

Many Wall Street Analysts have commented on Apple. Shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform” and Lowered the Price Target to $ 115 from a previous price target of $120 .Shares were Reiterated by Goldman on Jun 2, 2016 to “Buy” and Lowered the Price Target to $ 124 from a previous price target of $136 .Shares were Reiterated by UBS on May 11, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $120 .

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 $95.49 and hit $96.465 on the upside on Friday, eventually ending the session at $95.89, with a gain of 0.30% or 0.29 points. The heightened volatility saw the trading volume jump to 2,60,26,540 shares. Company has a market cap of $525,230 M.

In a different news, on Jun 2, 2016, Angela J Ahrendts (Senior Vice President) sold 25,000 shares at $100.00 per share price. According to the SEC, on Jun 1, 2016, Daniel J. Riccio (Senior Vice President) sold 40,755 shares at $100.00 per share price. On Jun 1, 2016, Eduardo H Cue (Senior Vice President) sold 50,000 shares at $99.44 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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