Company Update: Apple Inc (NASDAQ:AAPL) – As Apple shares sink, Alphabet closes in on its market cap

[at MarketWatch] – Worries about iPhone’s sales growth pummel Apple’s shares on Wednesday, paving the way for Google parent Alphabet to challenge its status as the world’s largest company by market cap. Read more on this. Apple Inc. (AAPL) , valued at $519.19B, opened at $96.03. Today’s price range has been between $93.52 and $96.63 per share and has traded between $92.00 and $134.54 over the past 12 months. AAPL shares are currently priced at 10.56x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.51x forward p/e ratio. The company pays shareholders $2.08 per share annually in dividends, yielding 2.05%. Consensus earnings for the current quarter by the 37 sell-side analysts covering the stock is an estimate of $2.22 per share, which would be $0.11 worse than the year-ago quarter and a $0.24 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $9.47 would be a $0.25 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $55.48 Billion. If reported, that would be a 4.36% decrease 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. Given all the information above, we should disclose to readers that the average price target is $142.29, which is 48.17% above than it opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Stock Update: Apple Inc (NASDAQ:AAPL) – How Apple could lose its place as world’s biggest company Market Update: Apple Inc (NASDAQ:AAPL) – Will 2016 Be the Year Apple Music Takes Off? Stock Update: Apple Inc (NASDAQ:AAPL) – Apple shares drop below $US100
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