Apple Inc. [NASDAQ: AAPL] price plunged by -1.37 percent to reach at -$1.77. The company report on January 13, 2021 that Apple Launches Major New Racial Equity and Justice Initiative Projects to Challenge Systemic Racism, Advance Racial Equity Nationwide.
Commitments build on Apple’s $100 million pledge and include a first-of-its-kind education hub for HBCUs and an Apple Developer Academy in Detroit.
Apple® announced a set of major new projects as part of its $100 million Racial Equity and Justice Initiative (REJI) to help dismantle systemic barriers to opportunity and combat injustices faced by communities of color. These forward-looking and comprehensive efforts include the Propel Center, a first-of-its-kind global innovation and learning hub for Historically Black Colleges and Universities (HBCUs); an Apple Developer Academy to support coding and tech education for students in Detroit; and venture capital funding for Black and Brown entrepreneurs. Together, Apple’s REJI commitments aim to expand opportunities for communities of color across the country and to help build the next generation of diverse leaders.
A sum of 110887469 shares traded at recent session while its average daily volume was at 108.91M shares. Apple Inc. shares reached a high of $130.2242 and dropped to a low of $127.00 until finishing in the latest session at $127.14.
The one-year AAPL stock forecast points to a potential upside of 2.08. The average equity rating for AAPL stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $129.84 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 2.00. 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.
Canaccord Genuity have made an estimate for Apple Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 05, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $136 to $144. The new note on the price target was released on December 16, 2020, representing the official price target for Apple Inc. stock. Previously, the target price had yet another raise from $150 to $160, while Wedbush kept a Outperform rating on AAPL stock. On November 30, 2020, analysts increased their price target for AAPL shares from 110 to 131.
The Average True Range (ATR) for Apple Inc. is set at 3.45, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 7.72. The Price to Book ratio for the last quarter was 33.20, with the Price to Cash per share for the same quarter was set at 5.45. Price to Free Cash Flow for AAPL in the course of the last twelve months was 35.77 with Quick ratio for the last quarter at 1.30.
AAPL Stock Performance Analysis:
Apple Inc. [AAPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.72. With this latest performance, AAPL shares dropped by -0.58% in over the last four-week period, additionally plugging by 31.99% over the last 6 months – not to mention a rise of 61.32% 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 48.08, with the RSI for the last a single of trading hit 43.47, and the three-weeks RSI is set at 50.75 for Apple Inc. [AAPL]. The present Moving Average for the last 50 days of trading for this stock 124.25, while it was recorded at 128.94 for the last single week of trading, and 103.99 for the last 200 days.
Insight into Apple Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Apple Inc. [AAPL] shares currently have an operating margin of +23.83 and a Gross Margin at +37.94. Apple Inc.’s Net Margin is presently recorded at +20.94.
Return on Total Capital for AAPL is now 33.84, given the latest momentum, and Return on Invested Capital for the company is 32.37. Return on Equity for this stock inclined to 73.69, with Return on Assets sitting at 17.33. When it comes to the capital structure of this company, Apple Inc. [AAPL] has a Total Debt to Total Equity ratio set at 187.14. Additionally, AAPL Total Debt to Total Capital is recorded at 65.17, with Total Debt to Total Assets ending up at 37.75. Long-Term Debt to Equity for the company is recorded at 163.84, with the Long-Term Debt to Total Capital now at 57.06.
Reflecting on the efficiency of the workforce at the company, Apple Inc. [AAPL] managed to generate an average of $390,551 per employee. Receivables Turnover for the company is 6.59 with a Total Asset Turnover recorded at a value of 0.83.Apple Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.
AAPL Stock EPS
With the latest financial reports released by the company, Apple Inc. posted 1.25/share EPS, while the average EPS was predicted by analysts to be reported at 1.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.60%. 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 12.72%.
Apple Inc. [AAPL] Insider Position Details
There are presently around $1,240,132 million, or 60.30% of AAPL stock, in the hands of institutional investors. The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 1,280,669,129, which is approximately -2.682% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 1,069,771,045 shares of the stock with an approximate value of $136.01 billion in AAPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $120.06 billion in AAPL stock with ownership of nearly -3.704% of the company’s market capitalization.
Positions in Apple Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,198 institutional holders increased their position in Apple Inc. [NASDAQ:AAPL] by around 113,144,387 shares. Additionally, 2,164 investors decreased positions by around 592,552,303 shares, while 137 investors held positions by with 9,048,371,539 shares. The mentioned changes placed institutional holdings at 9,754,068,229 shares, according to the latest SEC report filing. AAPL stock had 137 new institutional investments in for a total of 15,255,409 shares, while 68 institutional investors sold positions of 9,243,342 shares during the same period.