Stock Update (NASDAQ:AAPL): Apple Suppliers Blame ‘Tepid’ iPhone 7 Demand On Lack Of Innovation

[at Investor’s Business Daily] – Taiwan Semiconductor Manufacturing (TSM) will grow 4% in 2016, missing projections for 5%-10% growth, as Apple (AAPL) cuts its iPhone 7 orders June through December, a source told the Nikkei Asian Review … Read more on this. Apple Inc. (AAPL) , valued at $506.72B, started the session at $93.47. A quick look at the market, the company’s stock traded between $92.46 and $93.57 with its 52-week range being $91.85 to $132.97. Apple (AAPL) shares are currently priced at 11.27x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.45x earnings multiple for the same period. The company pays shareholders $2.28 per share in dividend income per year, for a current yield of 2.46%. According to a consensus of 36 analysts, the earnings estimate of $1.40 per share would be $0.45 worse than the year-ago quarter and a $0.37 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.29 would be a $0.93 setback 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 $42.18 Billion. If realized, that would be a 14.96% decrease over the year-ago quarter. More recently, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $126.38, which is 35.21% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL) Stock Update: Apple Inc (NASDAQ:AAPL) – AT&T supports Apple in U.S. iPhone encryption dispute Stock Update: Apple Inc (NASDAQ:AAPL) – Apple CEO: Unlocking San Bernardino iPhone would be ‘bad for America’