Apple Inc. (NASDAQ: AAPL)’s Stock Adds 0.37%, Making It A Good Investment

The trading price of Apple Inc. (NASDAQ:AAPL) floating higher at last check on Friday, July 29, closing at $163.11, 0.37% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $159.50 and $163.63. The company’s P/E ratio in the trailing 12-month period was 26.85. In examining the 52-week price action we see that the stock hit a 52-week high of $182.94 and a 52-week low of $129.04. Over the past month, the stock has gained 16.72% in value.

Apple Inc., whose market valuation is $2537.67 billion at the time of this writing, is expected to release its quarterly earnings report Apr 26, 2022 – May 02, 2022. The dividend yield on the company stock is 0.57%, while its Forward Dividend ratio is 0.92. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.16 per share this quarter, however they have predicted annual earnings per share of $6.15 for 2022 and $6.56 for 2023. It means analysts are expecting annual earnings per share growth of 9.60% this year and 6.70% next year.

Analysts have forecast the company to bring in revenue of $82.61 billion for the current quarter, with the likely lows of $78.88 billion and highs of $88.41 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $394.17 billion. The company’s revenue is forecast to grow by 7.80% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Apple Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest AAPL has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned AAPL a recommendation rating is 43. Out of them, 9 rate it a Hold, while 27 recommend Buy, whereas 5 assign an Overweight rating. 1 analyst(s) have tagged Apple Inc. (AAPL) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.73, which symbolizes a positive outlook. A quick review shows that AAPL’s price is currently 8.98% off the SMA20 and 13.10% off the SMA50. The RSI metric on the 14-day chart is currently showing 70.71, and weekly volatility stands at 2.28%. When measured over the past 30 days, the indicator reaches 2.52%. Apple Inc. (NASDAQ:AAPL)’s beta value is currently sitting at 1.22, while the Average True Range indicator is currently displaying 3.93. With analysts defining $136.00-$219.94 as the low and high price targets, we arrive at a consensus price target of $180.89 for the trailing 12-month period. The current price is about 16.62% off the estimated low and -34.84% off the forecast high, based on this estimate. Investors will be thrilled if AAPL’s share price rises to $185.00, which is the median consensus price. At that level, AAPL’s share price would be -13.42% below current price.

To see how Apple Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: AAPL stock’s performance was 0.37% at last check in today’s session, and 11.58% in the past year, while Microsoft Corporation (MSFT) has been trading 0.04% in recent session and positioned -2.01% lower than it was a year ago. Another comparable company Alphabet Inc. (GOOG) saw its stock trading 0.03% higher in today’s session but was down -14.57% in a year. Furthermore, Alphabet Inc. (GOOGL) showed a decrease of -0.06% today while its price kept declining at -14.33% over the past year. Apple Inc. has a P/E ratio of 26.85, compared to Microsoft Corporation’s 29.11 and Alphabet Inc.’s 20.21. Also during today’s trading, the S&P 500 Index has surged 0.03%, while the Dow Jones Industrial also saw a negative session, down -0.02% today.

An evaluation of the daily trading volume of Apple Inc. (NASDAQ:AAPL) indicates that the 3-month average is 90.29 million. However, this figure has increased over the past 10 days to an average of 73.14 million.

Currently, records show that 16.28 billion of the company’s shares remain outstanding. The insiders hold 0.07% of outstanding shares, whereas institutions hold 59.80%. The stats also highlight that short interest as of Apr 28, 2022, stood at 103.98 million shares, resulting in a short ratio of 1.21 at that time. From this, we can conclude that short interest is 0.64% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 101.97 million. However, since the stock’s price has seen -8.48% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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