Market Update: Apple Inc (NASDAQ:AAPL) – Apple hits out at British plans to extend online surveillance

[Reuters] – Apple (AAPL.O) has warned that a British plan to give intelligence agencies extra online surveillance powers could weaken the security of personal data for millions of people and paralyze the tech sector. Critics however say the Investigatory Powers Bill gives British spies authority beyond those available in other Western countries, including the United States, and that it constitutes an assault on personal freedom. Apple submitted its response to a British parliamentary committee that is scrutinizing the new bill in the latest clash between Western governments seeking to monitor the threat from Islamist militants and online companies working to maintain security. Read more on this. Apple Inc. (AAPL) , valued at $595.61B, opened at $107.45. Looking at the equity, the company’s one day range is $106.61 to $107.48 with its 52-week range being $92.00 to $134.54. AAPL shares are currently priced at 10.99x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.24x forward p/e ratio. The company pays shareholders $2.08 per share annually in dividends, yielding 1.96%. According to a consensus of 40 analysts, the earnings estimate of $3.25 per share would be $0.19 better than the year-ago quarter and a $0.07 sequential increase. The full-year EPS estimate is $9.77 which would be a $0.55 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $77.14 Billion. If realized, that would be a 3.40% 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. When considering if perhaps the stock is under or overvalued, the average price target is $148.98, which is 38.65% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Market Update: Apple Inc (NASDAQ:AAPL) – Apple becoming ‘target’ for hackers: Expert Stock Update (NASDAQ:AAPL): Apple has one big advantage with new Verizon payment plans Market Update: Apple Inc (NASDAQ:AAPL) – Google Takes Shots At Apple With Free Music Playlists
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