Apple Inc. (NASDAQ:AAPL – Get Free Report)’s stock price fell 1.5% on Friday . The stock traded as low as $289.62 and last traded at $291.13. 38,474,479 shares were traded during trading, a decline of 20% from the average session volume of 47,798,836 shares. The stock had previously closed at $295.63.
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
- Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
- Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
- Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
- Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
- Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
- Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.
Analyst Ratings Changes
Several research firms have weighed in on AAPL. Robert W. Baird set a $310.00 target price on shares of Apple in a report on Friday, May 1st. UBS Group restated a “buy” rating on shares of Apple in a report on Tuesday. Evercore restated an “outperform” rating on shares of Apple in a report on Monday. Stifel Nicolaus set a $330.00 target price on shares of Apple in a report on Monday, March 2nd. Finally, Barclays restated an “underweight” rating on shares of Apple in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $314.59.
Apple Trading Down 1.5%
The firm has a market capitalization of $4.28 trillion, a PE ratio of 35.20, a P/E/G ratio of 2.54 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average price is $284.93 and its 200 day moving average price is $272.14.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. Apple’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 13.06%.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 in the last ninety days. 0.06% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Isthmus Partners LLC lifted its position in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after purchasing an additional 5,808 shares in the last quarter. Sellwood Investment Partners LLC lifted its position in shares of Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Apple during the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth approximately $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Company Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
Further Reading
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