Credit Suisse slashes price target on Apple Inc. [AAPL] – find out why.

Apple Inc. [NASDAQ: AAPL] loss -3.22% on the last trading session, reaching $138.38 price per share at the time. The company report on October 13, 2022 that Apple Card Will Soon Let Users Grow Daily Cash Rewards While Saving For The Future.

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Apple Card users will be able to grow their rewards in Apple Wallet by automatically depositing their Daily Cash into a new high-yield Savings account from Goldman Sachs.

Apple® today announced a new Savings account for Apple Card® that will allow users to save their Daily Cash® and grow their rewards in a high-yield Savings account from Goldman Sachs.1 In the coming months, Apple Card users will be able to open the new high-yield Savings account and have their Daily Cash automatically deposited into it — with no fees, no minimum deposits, and no minimum balance requirements.2 Soon, users can spend, send, and save Daily Cash directly from Wallet.

Apple Inc. represents 16.16 billion in outstanding shares, while the company has a total market value of $2297.96 billion with the latest information. AAPL stock price has been found in the range of $138.19 to $144.52.

If compared to the average trading volume of 80.81M shares, AAPL reached a trading volume of 88402147 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 $183.77 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 1.90. 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.

Credit Suisse have made an estimate for Apple Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 13, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $169 to $155. The new note on the price target was released on October 11, 2022, representing the official price target for Apple Inc. stock. Previously, the target price had yet another raise from $160 to $189, while Rosenblatt kept a Buy rating on AAPL stock. On September 29, 2022, analysts decreased their price target for AAPL shares from 185 to 160.

The Average True Range (ATR) for Apple Inc. is set at 4.95, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 5.93. The Price to Book ratio for the last quarter was 38.44, with the Price to Cash per share for the same quarter was set at 2.90. Price to Free Cash Flow for AAPL in the course of the last twelve months was 24.76 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for AAPL stock

Apple Inc. [AAPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.22. With this latest performance, AAPL shares dropped by -9.18% in over the last four-week period, additionally sinking by -16.28% over the last 6 months – not to mention a drop of -3.74% 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 37.34, with the RSI for the last a single of trading hit 36.57, and the three-weeks RSI is set at 38.90 for Apple Inc. [AAPL]. The present Moving Average for the last 50 days of trading for this stock 156.35, while it was recorded at 139.82 for the last single week of trading, and 158.18 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 +29.78 and a Gross Margin at +41.78. Apple Inc.’s Net Margin is presently recorded at +25.88.

Return on Total Capital for AAPL is now 56.27, given the latest momentum, and Return on Invested Capital for the company is 53.36. Return on Equity for this stock inclined to 147.44, with Return on Assets sitting at 28.06. When it comes to the capital structure of this company, Apple Inc. [AAPL] has a Total Debt to Total Equity ratio set at 216.39. Additionally, AAPL Total Debt to Total Capital is recorded at 68.39, with Total Debt to Total Assets ending up at 38.89. Long-Term Debt to Equity for the company is recorded at 189.22, with the Long-Term Debt to Total Capital now at 59.81.

Reflecting on the efficiency of the workforce at the company, Apple Inc. [AAPL] managed to generate an average of $614,805 per employee. Receivables Turnover for the company is 8.23 with a Total Asset Turnover recorded at a value of 1.08.Apple Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Apple Inc. [AAPL]: An earnings per share (EPS) analysis

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 8.93%.

An analysis of insider ownership at Apple Inc. [AAPL]

There are presently around $1,302,514 million, or 59.70% of AAPL stock, in the hands of institutional investors. The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 1,277,319,054, which is approximately 0.577% of the company’s market cap and around 0.07% of the total institutional ownership; BLACKROCK INC., holding 1,028,688,317 shares of the stock with an approximate value of $142.35 billion in AAPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $123.82 billion in AAPL stock with ownership of nearly 0.435% of the company’s market capitalization.

Positions in Apple Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,819 institutional holders increased their position in Apple Inc. [NASDAQ:AAPL] by around 208,416,640 shares. Additionally, 2,306 investors decreased positions by around 263,209,589 shares, while 273 investors held positions by with 8,940,959,105 shares. The mentioned changes placed institutional holdings at 9,412,585,334 shares, according to the latest SEC report filing. AAPL stock had 108 new institutional investments in for a total of 28,572,298 shares, while 104 institutional investors sold positions of 22,118,390 shares during the same period.


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