Apple Inc (NASDAQ:AAPL) shares, rose in value, with the stock price down by -0.49% to the previous day’s close as strong demand from buyers drove the stock to $168.82.
Actively observing the price movement in the last trading, the stock closed the session at $169.65. The value of beta (5-year monthly) was 1.29 whereas the PE ratio was 26.27 over 12-month period. Referring to stock’s 52-week performance, its high was $199.62, and the low was $159.78. On the whole, AAPL has fluctuated by -0.76% over the past month.
With the market capitalization of Apple Inc currently standing at about $2606.90 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 0.96, with its dividend yield at 0.57%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.51, which is expected to increase to $1.43 for fiscal year $6.56 and then to about $7.16 by fiscal year 2025. Data indicates that the EPS growth is expected to be 15.30% in 2025, while the next year’s EPS growth is forecast to be 9.10%.
Analysts have estimated the company’s revenue for the quarter at $90.59 billion, with a low estimate of $87.82 billion and a high estimate of $96.6 billion. According to the average forecast, sales growth in current quarter could jump up 2.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $387.49 billion, representing an increase of 8.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AAPL’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 2.39, with the price of AAPL currently trading nearly -1.78% and -6.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.96, while the 7-day volatility ratio is showing 1.16% which for the 30-day chart, stands at 1.69%. Furthermore, Apple Inc (AAPL)’s beta value is 1.28, and its average true range (ATR) is 3.17.
A comparison of Apple Inc (AAPL) with its peers suggests the former has fared considerably weaker in the market. AAPL showed an intraday change of -0.49% in last session, and over the past year, it grew by 1.59%%.
Data on historical trading for Apple Inc (NASDAQ:AAPL) indicates that the trading volumes over the past 10 days have averaged 61.16 million and over the past 3 months, they’ve averaged 61.04 million. According to company’s latest data on outstanding shares, there are 15.55 billion shares outstanding.
Nearly 0.09% of Apple Inc’s shares belong to company insiders and institutional investors own 61.75% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 110.86 million shares as on Mar 15, 2024, resulting in a short ratio of 1.64. According to the data, the short interest in Apple Inc (AAPL) stood at 0.72% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 97.67 million. The stock has fallen by -12.31% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AAPL stock heading into the next quarter.
