Piper Sandler slashes price target on Apple Inc [AAPL] – find out why.

Apple Inc [NASDAQ: AAPL] closed the trading session at $182.52. The company report on February 21, 2024 at 9:00 AM that Introducing Apple Sports, a new app for sports fans.

The free app for iPhone delivers real-time scores, stats, and more, all designed for speed and simplicity.

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Apple® today introduced Apple Sports, a free app for iPhone that gives sports fans access to real-time scores, stats, and more. Designed for speed and simplicity, the app’s personalized experience puts users’ favorite leagues and teams front and center, featuring an easy-to-use interface designed by Apple. Apple Sports is available to download now in the App Store in the U.S., the U.K. and Canada.

The stocks have a year to date performance of -5.20 percent and weekly performance of -0.73 percent. The stock has been moved at 0.77 percent over the last six months. The stock has performed -6.16 percent around the most recent 30 days and changed -4.26 percent over the most recent 3-months.

If compared to the average trading volume of 53.79M shares, AAPL reached to a volume of 43931689 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $199.86 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. While these analysts kept the previous recommendation, Monness Crespi & Hardt raised their target price from $189 to $200. The new note on the price target was released on February 02, 2024, representing the official price target for Apple Inc stock. Previously, the target price had yet another drop from $225 to $215, while JP Morgan kept a Overweight rating on AAPL stock. On February 02, 2024, analysts increased their price target for AAPL shares from 223 to 232.

The Average True Range (ATR) for Apple Inc is set at 3.02, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 7.31. The Price to Book ratio for the last quarter was 38.08, 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 26.37 with Quick ratio for the last quarter at 1.02.

AAPL stock trade performance evaluation

Apple Inc [AAPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.73. With this latest performance, AAPL shares dropped by -6.16% in over the last four-week period, additionally plugging by 0.77% over the last 6 months – not to mention a rise of 22.57% 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 40.10, with the RSI for the last a single of trading hit 37.74, and the three-weeks RSI is set at 42.43 for Apple Inc [AAPL]. The present Moving Average for the last 50 days of trading for this stock 188.97, while it was recorded at 182.62 for the last single week of trading, and 183.73 for the last 200 days.

Apple Inc [AAPL]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Apple Inc [AAPL] stock

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]: Institutional Ownership

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%.