Apple Inc [NASDAQ: AAPL] price plunged by -0.83 percent to reach at -$1.43. The company report on March 18, 2024 at 8:00 AM that Apple Jing’an to welcome its first customers this Thursday, March 21, in Shanghai.
The new Apple Store in Shanghai features Apple’s best lineup of products ever, special Today at Apple sessions that celebrate local culture, and a team of more than 150 ready to offer excellent service to customers.
Apple® today previewed Apple Jing’an, located near Jing’an Temple and Jing’an Park in Shanghai. The store is encircled by an exterior plaza that gives the community a gathering place for special events, as well as providing a one-of-a-kind shopping destination where customers can discover and buy Apple’s unparalleled lineup of products and services.
The one-year AAPL stock forecast points to a potential upside of 14.23. The average equity rating for AAPL stock is currently 2.18, 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 $199.20 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 2.18. 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 3.62, 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 35.65, 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 24.69 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 -1.65. With this latest performance, AAPL shares dropped by -6.39% in over the last four-week period, additionally sinking by -2.25% over the last 6 months – not to mention a rise of 7.50% 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 39.05, with the RSI for the last a single of trading hit 39.25, and the three-weeks RSI is set at 39.37 for Apple Inc [AAPL]. The present Moving Average for the last 50 days of trading for this stock 182.03, while it was recorded at 173.85 for the last single week of trading, and 183.68 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
There are presently around $1.69 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%.
