Apple Inc. (NASDAQ:AAPL – Get Free Report) was down 2.1% on Monday . The company traded as low as $323.68 and last traded at $326.59. 53,181,800 shares traded hands during trading, an increase of 5% from the average daily volume of 50,620,465 shares. The stock had previously closed at $333.74.
Apple News Roundup
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple briefly overtook Nvidia in market value, reinforcing confidence in Apple’s scale, cash generation, and “consumer AI” model versus the heavy AI infrastructure spending of peers. Apple Reclaims World’s Most Valuable Company Title at $4.9 Trillion
- Positive Sentiment: Bank of America reportedly expects Apple to beat fiscal third-quarter consensus estimates and reiterated a Buy rating, suggesting fundamentals remain solid ahead of earnings. Apple in focus as BofA reiterates Buy rating ahead of Q3 results
- Positive Sentiment: Analysts continue to highlight Apple’s long-term AI and silicon strategy, while new China-related AI opportunities could support future device demand and services growth. Apple’s Long-Term AI and Silicon Strategy Underpins Buy Rating and Unchanged $360 Price Target Apple Intelligence Just Got the Green Light in China
- Neutral Sentiment: Investors are also watching Apple’s upcoming July 30 earnings report and Tim Cook’s final quarter as CEO, making the stock sensitive to guidance on iPhone demand, gross margins, and component costs. Apple Stock Hits All-Time Highs: End Of An Era with Tim Cook’s Final Quarter
- Negative Sentiment: Some articles warn that Apple’s stock may be flashing a technical sell signal after an extended momentum run, which could hint at near-term cooling or profit-taking. Apple Stock Sends Major Warning Signal as Momentum Hits Peak Apple stock’s 12-day momentum triggers sell signal not seen since 2020
- Negative Sentiment: Concerns are growing that Apple’s gross margins could come under pressure from higher component costs and product-mix changes, which is why today’s dip is being framed as a possible “margins meltdown” story. Why Apple Stock Dropped Today
Analyst Ratings Changes
A number of brokerages have recently issued reports on AAPL. Bank of America reaffirmed a “buy” rating and set a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. UBS Group set a $250.00 price objective on shares of Apple in a research report on Tuesday, July 14th. Maxim Group reissued a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price target for the company. in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada set a $365.00 price objective on Apple in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $322.43.
Apple Price Performance
The stock has a market capitalization of $4.80 trillion, a P/E ratio of 39.49, a PEG ratio of 2.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a fifty day moving average price of $303.61 and a two-hundred day moving average price of $277.12.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. As a group, analysts expect that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is presently 13.06%.
Insider Buying and Selling
In related news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Apple
Several large investors have recently made changes to their positions in the business. Overbrook Management Corp raised its position in shares of Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. boosted its position in shares of Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after purchasing an additional 3,014 shares during the last quarter. Torren Management LLC bought a new position in shares of Apple in the 4th quarter worth $1,178,000. Summit Wealth Partners LLC grew its stake in shares of Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after purchasing an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new stake in shares of Apple during the fourth quarter worth $105,482,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
About Apple
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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