Apple Inc. (NASDAQ:AAPL) has a beta value of 1.29 and has seen 55.8 million shares traded in the last trading session. The company, currently valued at $2749.91B, closed the last trade at $177.30 per share which meant it gained $1.87 on the day or 1.07% during that session. The AAPL stock price is 0.51% off its 52-week high price of $176.39 and 29.97% above the 52-week low of $124.17. If we look at the company’s 10-day average daily trading volume, we find that it stood at 52.75 million shares traded. The 3-month trading volume is 57.90 million shares.
The consensus among analysts is that Apple Inc. (AAPL) is an Overweight stock at the moment, with a recommendation rating of 2.00. 1 analysts rate the stock as a Sell, while 6 rate it as Overweight. 10 out of 40 have rated it as a Hold, with 23 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.19.
Sporting 1.07% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 05/30/23 when the AAPL stock price touched $177.30 or saw a rise of 0.94%. Year-to-date, Apple Inc. shares have moved 36.46%, while the 5-day performance has seen it change 1.78%. Over the past 30 days, the shares of Apple Inc. (NASDAQ:AAPL) have changed 4.49%. Short interest in the company has seen 109.88 million shares shorted with days to cover at 2.
Wall Street analysts have a consensus price target for the stock at $180.79, which means that the shares’ value could jump 1.93% from current levels. The projected low price target is $127.00 while the price target rests at a high of $209.00. In that case, then, we find that the current price level is -17.88% off the targeted high while a plunge would see the stock lose 28.37% from current levels.
Apple Inc. (AAPL) estimates and forecasts
Figures show that Apple Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained 19.71% over the past 6 months, with this year growth rate of -1.96%, compared to -0.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -0.80% and 5.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.50%.
24 analysts offering their estimates for the company have set an average revenue estimate of $81.51 billion for the current quarter. 24 have an estimated revenue figure of $90.52 billion for the next quarter concluding in Sep 2023. Year-ago sales stood $82.96 billion and $90.15 billion respectively for this quarter and the next, and analysts expect sales will shrink by -1.70% for the current quarter and 0.40% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 21.60% over the past 5 years. Earnings growth for 2023 is a modest 8.90% while over the next 5 years, the company’s earnings are expected to increase by 8.02%.
Apple Inc. is expected to release its next earnings report between July 26 and July 31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.96 at a share yield of 0.54%. The company’s dividend yield has gone up over the past 12 months.
Apple Inc. (NASDAQ:AAPL)’s Major holders
Insiders own 0.07% of the company shares, while shares held by institutions stand at 61.23% with a share float percentage of 61.27%. Investors are also buoyed by the number of investors in a company, with Apple Inc. having a total of 5,743 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 1.31 billion shares worth more than $215.98 billion. As of Mar 30, 2023, Vanguard Group, Inc. (The) held 8.33% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 1.04 billion shares as of Mar 30, 2023. The firm’s total holdings are worth over $170.67 billion and represent 6.58% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of Dec 30, 2022, the former fund manager holds about 2.90% shares in the company for having 459.39 million shares of worth $59.69 billion while later fund manager owns 345.69 million shares of worth $44.92 billion as of Dec 30, 2022, which makes it owner of about 2.18% of company’s outstanding stock.