Canaccord Genuity lifts Apple Inc. [AAPL] price estimate. Who else is bullish?

Apple Inc. [NASDAQ: AAPL] price surged by 1.20 percent to reach at $1.76. The company report on June 22, 2021 that Apple Launches at Apple Creative Studios to Provide Opportunities to Young Creatives.

Launching first in Los Angeles and Beijing, participants will receive hands-on experience and mentorship from renowned artists, nonprofit community partners, and Apple.

Apple® announced at Apple Creative Studios, a global initiative that will provide career-building mentorship, professional industry skills training, creative resources, and access to Apple’s full product lineup of iPhone®, iPad®, and Mac® to underrepresented communities across the globe. Creative Studios will launch first in Los Angeles and Beijing, followed by Bangkok, London, Chicago, and Washington, D.C. later this year. In each city, Apple will work hand-in-hand with nonprofit community organizations to connect youth with mentors and established artists.

A sum of 71077713 shares traded at recent session while its average daily volume was at 84.50M shares. Apple Inc. shares reached a high of $148.7177 and dropped to a low of $146.92 until finishing in the latest session at $148.56.

The one-year AAPL stock forecast points to a potential upside of 6.77. 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 $159.34 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 July 22, 2021. While these analysts kept the previous recommendation, UBS raised their target price from $155 to $166. The new note on the price target was released on July 20, 2021, representing the official price target for Apple Inc. stock. Previously, the target price had yet another raise from $170 to $175, while JP Morgan kept a Overweight rating on AAPL stock. On July 06, 2021, analysts increased their price target for AAPL shares from 165 to 170.

The Average True Range (ATR) for Apple Inc. is set at 2.76, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 7.53. The Price to Book ratio for the last quarter was 35.97, with the Price to Cash per share for the same quarter was set at 4.23. Price to Free Cash Flow for AAPL in the course of the last twelve months was 32.13 with Quick ratio for the last quarter at 1.10.

AAPL Stock Performance Analysis:

Apple Inc. [AAPL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.48. With this latest performance, AAPL shares gained by 11.11% in over the last four-week period, additionally plugging by 6.82% over the last 6 months – not to mention a rise of 60.01% 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 67.18, with the RSI for the last a single of trading hit 66.76, and the three-weeks RSI is set at 66.28 for Apple Inc. [AAPL]. The present Moving Average for the last 50 days of trading for this stock 133.73, while it was recorded at 145.87 for the last single week of trading, and 127.73 for the last 200 days.

Insight into Apple Inc. Fundamentals:

Apple Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

AAPL Stock EPS

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 17.93%.

Apple Inc. [AAPL] Insider Position Details

There are presently around $1,427,534 million, or 58.50% of AAPL stock, in the hands of institutional investors. The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 1,239,382,735, which is approximately -1.257% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 1,055,005,602 shares of the stock with an approximate value of $156.73 billion in AAPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $131.79 billion in AAPL stock with ownership of nearly 0% of the company’s market capitalization.

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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 1,672 institutional holders increased their position in Apple Inc. [NASDAQ:AAPL] by around 169,410,721 shares. Additionally, 2,040 investors decreased positions by around 373,244,669 shares, while 231 investors held positions by with 9,066,485,593 shares. The mentioned changes placed institutional holdings at 9,609,140,983 shares, according to the latest SEC report filing. AAPL stock had 151 new institutional investments in for a total of 16,210,341 shares, while 108 institutional investors sold positions of 17,425,889 shares during the same period.

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