Apple Inc. (NASDAQ:AAPL) stock ended January 11, 2019 with a fresh -0.98% decline. It was last seen at $152.29, claiming a stock-market value of $729.84B. The price went up as high as $153.7 but also was $151.51 at one point in the session. Trading activity significantly weakened as the volume at ready counter decreased to 26,907,021 shares versus 48,856,176 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 48,833,090 shares. The stock is now 7.25% above against its bear-market low of $142 on January 03, 2019. It has retreated -53.31% since it’s 52-week high of $233.47 reached in October. Now the market price is down -12.62% on the year and down -3.46% YTD.
AAPL’s 50 day simple moving average (SMA 50) price is $175.51 and its 200-day simple moving average (SMA 200) price is $192.45. The company’s stock currently has a total float of 4.74B shares. Its weekly volatility is hovering around 2.2% and felt 3.14% volatility in price over a month. On the upside, the share price will test short term resistance at around $153.49. On a downside, the stock is likely to find some support, which begins at $151.3. The failure to get near-term support could push it to $150.31.
Separately, it has been reported that multiple insider activity took place at Apple Inc. (AAPL). Principal Accounting Officer Kondo Chris sold 3,408 shares for $8,940 in transaction occurred on 2018/11/19. After making this transaction, the Principal Accounting Officer owns a direct stake of 647,520 shares, worth $1,361,473, as per the last closing price. On 2018/10/05 Ahrendts Angela J, Senior Vice President at AAPL, dumped 64,194 shares at an average price of $230.89 per share. The selling total is valued at $10,103,528.
Senior Vice President, CFO, Maestri Luca had divested 100,245 shares for $27,324 through a trade on 2018/10/04. Following this activity, the insider holds 22,911,997 shares worth $4,161,172 as of recent close. Wall Street’s most bullish Apple Inc. (NASDAQ:AAPL) analysts are predicting the share price to blow past $260 per share during the next 12 months. The current median share price forecast by them is $180, suggesting that the stock could increase 18.2% in that time frame. The average price target of $180.06 calls for a nearly 18.23% increase in the stock price.
It had seen a change in price target from analysts at Needham, who reiterated the stock at Buy on January 03 but moved PT from $200 to $180. Analysts at Monness Crespi & Hardt, maintained the company shares at Buy on January 03 but switched target price from $300 to $200. Brokerage firm Maxim Group, looks cautious as they stick to prior recommendation of Hold, in a call on January 03. However, they did change the target price from $212 to $160.
When looking at valuations, Apple Inc. (AAPL) has a pricey P/E of 12.54x as compared to industry average of 6.17x. Moreover, it trades for 11.28 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 6.83x price/book and 2.75x price/sales. Compared to others, Apple Inc. is in a different league with regards to profitability, having net margins of 22.4%. To put some perspective around this, the industry’s average net margin is 19.2%. AAPL’s ROE is 48.7%, which is also considerably better than the industry’s ROE of 21.76%. It’s also very liquid in the near term, with a current ratio of 1.1. The stock has a debt/capital of 1.07.
Shares of Apple Inc. (AAPL) have dropped -31.5% since the recent earnings report. Over the past 12 fiscal quarters, Apple Inc. (NASDAQ:AAPL) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 1 quarters (8%), whereas at 0 occasion EPS met analyst expectations. AAPL last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $2.91 per share, -37.42% change on the same period last year. That was better than consensus for $2.78. Revenue for the recent quarter stood at $62.9 billion, up 20% on last year and above the $61.56 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $86.53 billion to $97.76 billion, which should be compared with $87.53 billion generated last year. EPS is seen in a range of $4.72 to $5.53, against the $4.21 reported a year ago.