Market Update (NASDAQ:AAPL): Apple Supplier Macom Tech Breaks Out Amid Sell-Off

[at Investor’s Business Daily] – Apple (AAPL) chip supplier Macom Technology (MTSI) is staging a breakout in the stock market today. But as the market sells off, can the chipmaker’s gain hold up? Macom Tech earns an IBD Composite Rating … Read more on this. Apple Inc. (AAPL) , currently valued at $591.15B, started the session at $108.69. A quick look at the market, the company’s stock traded between $105.81 and $109.52 with its 52-week range being $92.00 to $134.54. AAPL shares are currently priced at 11.14x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.33x earnings multiple for the same period. And for income investors, the company pays shareholders $2.08 per share annually in dividends, yielding 1.88%. Consensus earnings for the current quarter by the 40 sell-side analysts covering the stock is an estimate of $3.25 per share, which would be $0.19 better than the year-ago quarter and a $0.07 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $9.78 would be a $0.56 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $77.13 Billion. If realized, that would be a 3.39% increase over the year-ago quarter. Recently, Wells Fargo upgraded AAPL from Market Perform to Outperform (Aug 25, 2015). Previously, BofA/Merrill downgraded AAPL from Buy to Neutral. Investors should keep in mind is that the average price target is $149.05, which is 37.13% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Market Update: Apple Inc (NASDAQ:AAPL) – Avoid Apple Parts Supplier Jabil Circuit Ahead of Earnings Company Update (NASDAQ:AAPL): Apple stock flat amid conflicting iPhone sales forecasts Market Update: Apple Inc (NASDAQ:AAPL) – Apple, Workday Jump 5%, Leading Tech Higher on Upgrades
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.