As of Wednesday close, Apple Inc.’s (NASDAQ:AAPL) stock was down -$3.58, moving down -2.00 percent to $175.49. The average number of shares traded per day over the past five days has been 69,535,117 shares. 5 times new highs have been achieved over the past 5 days, with a $1.28 gain in that time frame. In the last twenty days, the average volume was 65,485,516, while in the previous 50 days, it was 59,508,676.
Since last month, AAPL stock retreated -0.20%. Shares of the company fell to $173.54 on 09/07/23, the lowest level in the past month. A 52-week high of $198.23 was reached on 07/19/23 after having rallying from a 52-week low of $124.17. Since the beginning of this year, AAPL’s stock price has risen by 35.07% or $45.56, and marked a new high 44 times. However, the stock has declined by -11.47% since its 52-week high.
AAPL stock investors should be aware that Apple Inc. (AAPL) stock had its last reported insider trading activity 45 days ago on Aug 07. O’BRIEN DEIRDRE, the Senior Vice President of the company, disposed of 15,419 shares for $178.56 on Aug 07. It resulted in a $2,753,217 divestment by the insider. KONDO CHRIS sold 4,092 shares at an average price of $173.26 on May 08. The insider now owns 33,946 shares following the transaction. On Apr 13, Senior Vice President, CFO Maestri Luca sold 69,996 shares at $165.25 apiece. The transaction was valued at $11,566,839.
Valuation Metrics
Right now, Apple Inc. (AAPL) has a P/E ratio of about 29.49. The stock’s beta is 1.28. Besides these, the trailing price-to-sales (P/S) ratio of 7.18, the price-to-book (PB) ratio of 45.70, and the price-to-cash flow ratio of 27.28 may also be considered.
The latest dividend of $0.24 per share was paid out, remained unchanged from last year’s $0.24. On Thursday May 4 2023, a $0.01 dividend increase was announced.
Financial Health
In the three months ended June 29, Apple Inc.’s quick ratio stood at 0.90, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.63, and the total debt-to-equity ratio was 1.81. On the profitability front, the trailing twelve-month gross margin is 43.40% percent. In the year ended June 29, EBITDA margin amounted to 33.10%, whereas operating margins totaled 29.20%. Based on annual data, AAPL earned $170.78 billion in gross profit and brought in $394.33 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 58.30%. Return on equity (ROE) for the past 12 months was 164.90%.
In Apple Inc.’s quarter-end financial report for June 29, it reported total debt of $98.07 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. AAPL’s revenue fell -1.42% to $94.84 billion during the quarter, while net income inched up to $81.8 billion. While analysts expected Apple Inc. to report $1.19 quarterly earnings, the actual figure was $1.26 per share, beating the consensus estimate by 5.90%. During the quarter, the company generated $26.05 billion in EBITDA. The liabilities of Apple Inc. were 274.76 billion at the end of its most recent quarter ended June 29, and its total debt was $109.28 billion. The value of shareholders’ equity is $15.63 billion.
Technical Picture
This quick technical analysis looks at Apple Inc.’s (AAPL) price momentum. With a historical volatility rate of 19.05%, the RSI 9-day stood at 40.77% on 20 September.
With respect to its five-day moving average, the current Apple Inc. price is up by +0.73% percent or $1.28. At present, AAPL shares trade -0.98% below its 20-day simple moving average and +4.20% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.69% below its SMA50 and +18.33% above its SMA200.
Stochastic coefficient K was 24.15% and Stochastic coefficient D was 21.25%, while ATR was 3.72. Given the Stochastic reading of 11.86% for the 14-day period, the RSI (14) reading has been calculated as 42.13%. As of today, the MACD Oscillator reading stands at 0.70, while the 14-day reading stands at -2.41.
Analyst Ratings
Wedbush reiterated its an Outperform rating on Apple Inc. (NASDAQ: AAPL) in a note to investors. The analysts firm has however raised their price target to $240, representing a possible 23.7% increase in the stock price. Apple Inc. (AAPL) has been rated Overweight by analysts. According to 2 brokerage firms, AAPL is a sell, and 13 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 5 analysts rate Apple Inc. stock as buy, with 24 recommending it as overweight.
With a median target price of $200.00, the current consensus forecast for the stock is $125.00 – $240.00. Based on these forecasts, analysts predict Apple Inc. (AAPL) will achieve an average price target of $199.93.
