Apple (AAPL) : 33 analysts are covering Apple (AAPL) and their average rating on the stock is 1.52, which is read as a Buy. 25 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Apple (AAPL) also receives 3 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Apple (AAPL) has been rated by 27 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $168 and the lowest price target forecast is $82. The average forecast of all the analysts is $121.56 and the expected standard deviation is $16.94.
Also, Major Brokerage house, Wells Fargo downgrades its ratings on Apple (NASDAQ:AAPL). According to the latest information available, the shares are now rated Market Perform by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on September 8, 2016.
Apple (NASDAQ:AAPL): After opening at $113.86, the stock dipped to an intraday low of $113.49 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $115.73 and the buying power remained strong till the end. The stock closed at $115.57 for the day, a gain of 3.40% for the day session. The total traded volume was 90,613,177. The stocks close on the previous trading day was $111.77.
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.