Hot Stocks Short-Term Price Target Update: Apple Inc (NASDAQ:AAPL)

bnnvn

On Tuesday Shares of Apple Inc (NASDAQ:AAPL), gained 1.16% to $122.58. The firm opened its current trade at $120.79. The total volume traded for the day is 19.19M shares, as compared to its average daily volume of 51.01M shares. The stock is floating in a range of $120.70 $122.81. The stocks hold the market capitalization of $683.44B.

According to news report, Apple Inc (NASDAQ:AAPL), declared financial results for its fiscal 2015 fourth quarter ended September 26, 2015. The Company posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share. These results compare to revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent contrast to 38 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

The growth was fueled by record fourth quarter sales of iPhone®, the expanded availability of Apple Watch®, and all-time records for Mac® sales and revenue from services.

“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” said Tim Cook, Apple’s CEO. “We are heading into the holidays with our strongest product lineup yet, counting iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which starts shipping this week.”

“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion,” said Luca Maestri, Apple’s CFO. “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now accomplished over $143 billion of our $200 billion capital return program.”

AAPL stock is now trading at $122.54, having a volume of 19.19M shares. The year-to-date (YTD) performance of AAPL stock reflects that it is 11.04% above last year. During the past month, the stock gain 11.04%, bringing three-month performance to 3.49% and six-month performance to -4.95%. For this stock, beta value at 0.86 represents it is too much volatile.

Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $148.88, according to 42 brokers. The higher price target for AAPL is $200.00, while the lower price target is $85.00.

Apple’s board of directors has declared a cash dividend of $.52 per share of the Company’s common stock. The dividend is payable on November 12, 2015, to shareholders of record as of the close of business on November 9, 2015.

Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, education, and enterprise and government customers in the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific.

You may also like

What Is Apple Inc (NASDAQ:AAPL)? Read More About A…Active Stocks Evaluation Reports: Twitter Inc (NYS…Active Stocks Short-Term Price Target Update: 3M C…Trending Stocks Buzz: Tesla Motors, (NASDAQ:TSLA),…Hot Stocks News: Bank of America Corporation, (NYS…Top News Buzz: Citigroup, (NYSE:C), Bonso Electron…Sizzling News Announcement: Bonso Electronics Inte…Notable Moves Under Consideration: Ford Motor Comp…ACTIVE STOCKS WITH BREAKING NEWS: Bank of America …

About Travis Garlick 1759 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.