Bank of America Securities Remains a Hold on Apple (AAPL)

Posted By: ndeeney

Bank of America Securities analyst Wamsi Mohan reiterated a Hold rating on Apple (AAPL – Research Report) yesterday and set a price target of $190.00. The company’s shares closed last Friday at $180.95.

According to TipRanks, Mohan is a 4-star analyst with an average return of 7.4% and a 52.72% success rate. Mohan covers the Technology sector, focusing on stocks such as Apple, International Business Machines, and NetApp.

Apple has an analyst consensus of Strong Buy, with a price target consensus of $184.89, representing a 2.18% upside. In a report released on May 22, Bernstein also maintained a Hold rating on the stock with a $175.00 price target.

See the top stocks recommended by analysts >>

Based on Apple’s latest earnings release for the quarter ending April 1, the company reported a quarterly revenue of $94.84 billion and a net profit of $24.16 billion. In comparison, last year the company earned a revenue of $97.28 billion and had a net profit of $25.01 billion

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

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