Market Update: Apple Inc (NASDAQ:AAPL) – Alphabet overtakes Apple in market value – for now

[Reuters] – The median share price forecast of 31 analysts who raised price targets after Alphabet reported strong results on Monday was $924, suggesting that the company formerly known as Google could be valued at $628 billion in the next 12 months. Apple, tracked by 49 analysts, would be valued at $748.5 billion, at the current median price target of $135. A look at the most bullish price targets on the companies ’ shares shows that Alphabet is expected to be valued at $734 billion in the next 12 months, while Apple could hit $1.10 trillion – making it the first publicly listed company ever to be worth more than $1 trillion. Read more on this. Apple Inc. (AAPL) , valued at $528.34B, opened at $95.47. Looking at today’s trading action, the company’s one day range from $95.05 to $96.04 with a one year range of $92.00 to $134.54. Apple (AAPL) shares are currently priced at 10.56x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.89x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.08 per share annually in dividends, yielding 2.14%. According to a consensus of 38 analysts, the earnings estimate of $2.01 per share would be $0.32 worse than the year-ago quarter and a $0.45 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $9.13 is a $0.09 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $52.05 Billion. If reported, that would be a 10.27% decrease over the year-ago quarter. Recently, BofA/Merrill upgraded AAPL from Neutral to Buy (Jan 12, 2016). Previously, Mizuho upgraded AAPL from Neutral to Buy. The average price target for AAPL shares is $136.59, which is 43.07% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Stock Update (NASDAQ:AAPL): Will Alphabet overtake Apple as No.1? Company Update: Apple Inc (NASDAQ:AAPL) – As Apple shares sink, Alphabet closes in on its market cap Market Update: Apple Inc (NASDAQ:AAPL) – Will 2016 Be the Year Apple Music Takes Off?