Apple Inc [AAPL] stock Reiterated by Piper Sandler analyst, price target now $190

Apple Inc [NASDAQ: AAPL] stock went on a downward path that fall over -0.84% on Friday, amounting to a one-week price decrease of less than -3.46%. The company report on February 5, 2024 at 9:00 AM that USHER’s Road to Halftime on Apple Music lets fans listen, watch, dance, and sing their way to Super Bowl LVIII.

Tune in to the Apple Music Super Bowl LVIII Halftime Show press conference for the official USHER interview on February 8 at 10 a.m. PT on Apple Music.

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Apple today announced Apple Music® is bringing USHER fans a rich collection of exclusive content ahead of his highly anticipated Apple Music Super Bowl LVIII Halftime Show — an epic performance 30 years in the making airing this Sunday, February 11, at Allegiant Stadium in Las Vegas. Starting today, fans can get ready for the big show with a wide selection of music and exclusive content, from the first-look trailer Apple Music and USHER shared last month, to the artist’s complete studio album discography in Spatial Audio, to exclusive playlists curated by USHER himself and by NFL teams, to dedicated Apple Music Radio programming.

Over the last 12 months, AAPL stock rose by 17.37%. The one-year Apple Inc stock forecast points to a potential upside of 8.62. The average equity rating for AAPL stock is currently 2.16, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2815.21 billion, with 15.55 billion shares outstanding and 15.43 billion shares in the current float. Compared to the average trading volume of 53.45M shares, AAPL stock reached a trading volume of 48622221 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $199.51 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 2.16. 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.

Piper Sandler have made an estimate for Apple Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 02, 2024.

The Average True Range (ATR) for Apple Inc is set at 3.18, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 7.30. The Price to Book ratio for the last quarter was 38.04, with the Price to Cash per share for the same quarter was set at 4.73. Price to Free Cash Flow for AAPL in the course of the last twelve months was 26.34 with Quick ratio for the last quarter at 1.02.

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 -3.46. With this latest performance, AAPL shares dropped by -3.35% in over the last four-week period, additionally plugging by 4.78% over the last 6 months – not to mention a rise of 17.37% 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 36.58, with the RSI for the last a single of trading hit 29.97, and the three-weeks RSI is set at 40.62 for Apple Inc [AAPL]. The present Moving Average for the last 50 days of trading for this stock 189.86, while it was recorded at 184.50 for the last single week of trading, and 183.48 for the last 200 days.

Insight into Apple Inc Fundamentals:

Apple Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.02 and a Current Ratio set at 1.07.

AAPL Stock EPS

With the latest financial reports released by the company, Apple Inc posted 1.52/share EPS, while the average EPS was predicted by analysts to be reported at 1.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.30%. 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 11.00%.

Apple Inc [AAPL] Institutonal Ownership Details

The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AAPL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AAPL stock with ownership which is approximately 5.8325%.