Apple (AAPL) : Traders are bullish on Apple (AAPL) as it has outperformed the S&P 500 by a wide margin of 10.42% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.12%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.09% in the last 1 week, and is up 10.85% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Apple Inc. is up 15.47% in the last 3-month period. Year-to-Date the stock performance stands at 5.66%. The stock has recorded a 20-day Moving Average of 3.79% and the 50-Day Moving Average is 9.5%.
Apple (NASDAQ:AAPL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $108.77 and $108.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $109.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $109.36, notching a gain of 0.26% for the day. The total traded volume was 25,368,072 . The stock had closed at $109.08 on the previous day.
Also, RBC Capital maintains their rating on the shares of Apple (NASDAQ:AAPL). The current rating of the shares is Outperform. Equity Analysts at the Firm raises the price target to $117 per share from $115 per share. The rating by the firm was issued on August 11, 2016.
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 Companys 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.