Apple Inc [AAPL] moved up 1.02: Why It’s Important

Apple Inc [NASDAQ: AAPL] closed the trading session at $170.73. The company report on March 4, 2024 at 8:00 AM that Apple unveils the new 13- and 15-inch MacBook Air with the powerful M3 chip.

The world’s most popular laptop is better than ever with even more performance, faster Wi-Fi, and support for up to two external displays — all in its strikingly thin and light design with up to 18 hours of battery life.

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Apple® today announced the new MacBook Air® with the powerful M3 chip, taking its incredible combination of power-efficient performance and portability to a new level. With M3, MacBook Air is up to 60 percent faster than the model with the M1 chip and up to 13x faster than the fastest Intel-based MacBook Air.1 And with a faster and more efficient Neural Engine in M3, MacBook Air continues to be the world’s best consumer laptop for AI. The 13- and 15-inch MacBook Air both feature a strikingly thin and light design, up to 18 hours of battery life,1 a stunning Liquid Retina® display, and new capabilities, including support for up to two external displays and up to 2x faster Wi-Fi than the previous generation. With its durable aluminum unibody enclosure that’s built to last, the new MacBook Air is available in four gorgeous colors: midnight, which features a breakthrough anodization seal to reduce fingerprints; starlight; space gray; and silver. Combined with its world-class camera, mics, and speakers; MagSafe® charging; its silent, fanless design; and macOS®, MacBook Air delivers an unrivaled experience — making the 13-inch model the world’s bestselling laptop and the 15-inch model the world’s bestselling 15-inch laptop. Customers can order starting today, with availability beginning Friday, March 8.

The stocks have a year to date performance of -11.32 percent and weekly performance of -4.97 percent. The stock has been moved at -3.85 percent over the last six months. The stock has performed -9.86 percent around the most recent 30 days and changed -11.23 percent over the most recent 3-months.

If compared to the average trading volume of 58.34M shares, AAPL reached to a volume of 75910176 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 3.39, with the Price to Sales ratio for AAPL stock in the period of the last 12 months amounting to 6.84. The Price to Book ratio for the last quarter was 35.62, 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 24.67 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 -4.97. With this latest performance, AAPL shares dropped by -9.86% in over the last four-week period, additionally sinking by -3.85% over the last 6 months – not to mention a rise of 11.68% 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 27.80, with the RSI for the last a single of trading hit 24.54, and the three-weeks RSI is set at 31.65 for Apple Inc [AAPL]. The present Moving Average for the last 50 days of trading for this stock 185.01, while it was recorded at 170.81 for the last single week of trading, and 183.87 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

There are presently around $1.66 trillion, or None% of AAPL stock, in the hands of institutional investors. The top three institutional holders of AAPL stocks are: VANGUARD GROUP INC with ownership of 1.3 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%.