Company Update: Apple Inc (NASDAQ:AAPL) – Apple: Raymond James’s ‘Index’ Not Encouraging; Garmin, Fitbit Trends Happier

[at Barrons.com] – Raymond James analyst Tavis McCourt, who has a Market Perform rating on shares of Apple (AAPL), Garmin (GRMN), and Fitbit (FIT), nevertheless has some anecdotal data suggesting the trends for Apple are … Read more on this. Apple Inc. (AAPL) , currently valued at $542.05B, began trading this morning at $98.98. During today’s session, AAPL traded between $98.76 to $99.54 with the price of the stock fluctuating between $89.47 to $132.97 over the last 52 weeks. AAPL shares are currently priced at 12.06x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.37x earnings multiple for the same period. The company pays shareholders $2.28 per share annually in dividends, yielding 2.27%. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $1.39 per share, which would be $0.46 worse than the year-ago quarter and a $0.38 sequential decrease. Investors should also note that the full-year EPS estimate of $8.28 is a $0.94 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 $42.14 Billion. If realized, that would be a 15.04% 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 $124.30, which is 25.58% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Market Update: Apple Inc (NASDAQ:AAPL) – Fitbit, Apple Lead In Wearables, But Other Brands Gaining Fast Market Update (NASDAQ:AAPL): Fitbit, Inc. is Officially Afraid of Apple, Inc. Company Update: Apple Inc (NASDAQ:AAPL) – Fitbit to launch full Apple Watch rival with longer battery life