Stock Update: Apple Inc (NASDAQ:AAPL) – Apple Watch Sales Could Tank This Year With No Big Redesign

[at Investor’s Business Daily] – Apple Watch sales are likely to tumble this year as the company prepares a second-generation smartwatch that is only a modest upgrade over the original version, respected Apple (AAPL) analyst Ming-Chi … Read more on this. Apple Inc. (AAPL) , with a current market cap of $612.23B, opened this morning at $109.45. During today’s session, AAPL traded between $108.66 to $110.50 with a one year range of $92.00 to $134.54. Priced at 12.05x this year’s forecasted earnings, AAPL shares are relatively expensive compared to the industry’s 9.37x forward p/e ratio. The company pays shareholders $2.08 per share in dividend income per year, for a current yield of 1.91%. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $2.00 per share, which would be $0.33 worse than the year-ago quarter and a $0.28 sequential decrease. Investors should also note that the full-year EPS estimate of $9.05 is a $0.17 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $52.00 Billion. If reported, that would be a 10.36% decrease over the year-ago quarter. Recently, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. Given all the information above, we should disclose to readers that the average price target is $133.92, which is 22.36% above than it opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – Fitbit to launch full Apple Watch rival with longer battery life Market Update (NASDAQ:AAPL): Apple’s Big Problem With The Apple Watch Must Be Fixed Stock Update: Apple Inc (NASDAQ:AAPL) – Apple Notebook Sales Surge, Top Industry