Company Update: Apple Inc (NASDAQ:AAPL) – Apple Paid $1 Billion By Google For Default Search Status

[at Investopedia] – This revenue-sharing agreement demonstrates the power of the iPhone and — to some extent — how dependent Google has become on Apple’s continued success. Read more on this. Apple Inc. (AAPL) , valued at $558.83B, began trading this morning at $101.44. Looking at the stock, its one day range is $100.12 to $101.53 with its 52-week range being $92.00 to $134.54. AAPL shares are currently priced at 10.69x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.89x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.08 per share annually in dividends, yielding 2.05%. Consensus earnings for the current quarter by the 39 sell-side analysts covering the stock is an estimate of $3.23 per share, which would be $0.17 better than the year-ago quarter and a $0.02 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $9.49 would be a $0.27 better 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 $76.61 Billion. If realized, that would be a 2.69% increase over the year-ago quarter. In terms of ratings, BofA/Merrill upgraded AAPL from Neutral to Buy (Jan 12, 2016). Previously, Mizuho upgraded AAPL from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $142.67, which is 40.64% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – Google paid Apple $1B to stay on iPhones: Report Stock Update: Apple Inc (NASDAQ:AAPL) – How Apple could lose its place as world’s biggest company Company Update (NASDAQ:AAPL): This app can make your cheaper Google smartwatch look just like an Apple Watch