Apple (AAPL) is Reiterated by Barclays to Overweight, Lowers Price Target to $ 115

Apple (AAPL) was Reiterated by Barclays to “Overweight” while Lowering the Price Target of the company shares to $ 115 from a previous price target of $121 . Barclays advised their investors in a research report released on Jul 15, 2016.

Many Wall Street Analysts have commented on Apple. Longbow Initiated Apple on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $125.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 .

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 closed down -0.01 points or -0.01% at $98.78 with 3,01,36,990 shares getting traded on Friday. Post opening the session at $98.92, the shares hit an intraday low of $98.5 and an intraday high of $99.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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