Apple Inc. [NASDAQ: AAPL] gained 2.52% or 10.71 points to close at $435.75 with a heavy trading volume of 76861850 shares. The company report on July 30, 2020 that Apple Reports Third Quarter Results.
Revenue up 11 percent and EPS up 18 percent to new June quarter records.
Apple® today announced financial results for its fiscal 2020 third quarter ended June 27, 2020. The Company posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. International sales accounted for 60 percent of the quarter’s revenue.
It opened the trading session at $432.80, the shares rose to $446.5457 and dropped to $431.57, the range by which the price of stock traded the whole day. The daily chart for AAPL points out that the company has recorded 41.17% gains over the past six months. However, it is still -126.27% lower than its most recent low trading price.
If we look at the average trading volume of 35.43M shares, AAPL reached to a volume of 76861850 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Apple Inc. [AAPL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AAPL shares is $373.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AAPL stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Apple Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 31, 2020. While these analysts kept the previous recommendation, UBS raised their target price from $400 to $425. The new note on the price target was released on July 31, 2020, representing the official price target for Apple Inc. stock. Previously, the target price had yet another raise from $390 to $445, while RBC Capital Mkts kept a Outperform rating on AAPL stock. On July 31, 2020, analysts increased their price target for AAPL shares from 320 to 420.
The Average True Range (ATR) for Apple Inc. is set at 12.54, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 6.38. The Price to Book ratio for the last quarter was 26.00, with the Price to Cash per share for the same quarter was set at 23.71. Price to Free Cash Flow for AAPL in the course of the last twelve months was 29.65 with Quick ratio for the last quarter at 1.40.
Trading performance analysis for AAPL stock
Apple Inc. [AAPL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.90. With this latest performance, AAPL shares gained by 19.68% in over the last four-week period, additionally plugging by 41.17% over the last 6 months – not to mention a rise of 113.58% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AAPL stock in for the last two-week period is set at 76.43, with the RSI for the last a single of trading hit 80.22, and the three-weeks RSI is set at 73.68 for Apple Inc. [AAPL]. The present Moving Average for the last 50 days of trading for this stock 360.86, while it was recorded at 399.74 for the last single week of trading, and 301.69 for the last 200 days.
Apple Inc. [AAPL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Apple Inc. [AAPL] shares currently have an operating margin of +24.33 and a Gross Margin at +37.58. Apple Inc.’s Net Margin is presently recorded at +21.25.
Return on Total Capital for AAPL is now 30.10, given the latest momentum, and Return on Invested Capital for the company is 28.84. Return on Equity for this stock inclined to 55.92, with Return on Assets sitting at 15.69. When it comes to the capital structure of this company, Apple Inc. [AAPL] has a Total Debt to Total Equity ratio set at 119.40. Additionally, AAPL Total Debt to Total Capital is recorded at 54.42, with Total Debt to Total Assets ending up at 31.92. Long-Term Debt to Equity for the company is recorded at 101.46, with the Long-Term Debt to Total Capital now at 46.24.
Reflecting on the efficiency of the workforce at the company, Apple Inc. [AAPL] managed to generate an average of $403,328 per employee. Receivables Turnover for the company is 5.48 with a Total Asset Turnover recorded at a value of 0.74.Apple Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.
Apple Inc. [AAPL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Apple Inc. posted 3.03/share EPS, while the average EPS was predicted by analysts to be reported at 2.84/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AAPL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Apple Inc. go to 12.38%.
An analysis of insider ownership at Apple Inc. [AAPL]
There are presently around $1,195,786 million, or 61.80% of AAPL stock, in the hands of institutional investors. The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 336,728,608, which is approximately 2.249% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 274,684,501 shares of the stock with an approximate value of $119.69 billion in AAPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $106.83 billion in AAPL stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Apple Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,348 institutional holders increased their position in Apple Inc. [NASDAQ:AAPL] by around 192,407,658 shares. Additionally, 1,964 investors decreased positions by around 90,780,961 shares, while 166 investors held positions by with 2,461,013,958 shares. The mentioned changes placed institutional holdings at 2,744,202,577 shares, according to the latest SEC report filing. AAPL stock had 158 new institutional investments in for a total of 9,029,954 shares, while 103 institutional investors sold positions of 6,023,417 shares during the same period.