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Apple (AAPL, $134.65) shares get price target hikes, following earnings beat
Apple got rating upgrades from several analysts, following the iPhone maker’s blowout earnings results for its second quarter.
On Wednesday, Apple reported earnings that crushed analysts’ expectations, and also announced a $90 billion boost to its stock buyback program.
Goldman Sachs analyst Rod Hall boosted rating on Apple shares to neutral from sell, while hiking his price target to $130 from $83. Hall had kept a sell rating on the stock for more than a year; in his note he mentioned that his earlier expectation of disappointing iPhone cycle amid the COVID-19 pandemic "was clearly wrong." Hall noted that iPad demand is so solid that Apple says it will leave $3 billion to $4 billion of revenue on the table in fiscal Q3 ending June.
JPMorgan analyst Samik Chatterjee raised his price target on Apple shares to $165 from $150. He reaffirmed overweight rating on the shares. According to Chatterjee, Apple reported a "broad-based beat" across all segments.
Wedbush analyst Dan Ives cited a "drop the mic" quarter, as he boosted his price target to $185 from $175 while affirming his outperform rating. Ives emphasized that Apple " absolutely crushed” Street expectations, with “iPhone revenues beating by 17%+ in a jaw-dropping performance as the iPhone 12 supercycle is playing out before our [and Wall Street's] eyes."
Raymond James analyst Chris Caso increased his price target on Apple shares to $185 from $160 while keeping an outperform rating on the shares.
AAPL in +5.10% Uptrend, growing for three consecutive days on May 04, 2022
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where AAPL advanced for three days, in 255 of 351 cases, the price rose further within the following month. The odds of a continued upward trend are 73%.
Current price $147.11 crossed the support line at $146.74 and is trading between $147.17 support and $146.74 support lines. Throughout the month of 04/12/22 - 05/13/22, the price experienced a -12% Downtrend. During the week of 05/06/22 - 05/13/22, the stock fell -6%.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where AAPL's RSI Indicator exited the oversold zone, 13 of 23 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 57%.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
AAPL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Momentum Indicator moved below the 0 level on April 07, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on AAPL as a result. In 30 of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 38%.
The Moving Average Convergence Divergence Histogram (MACD) for AAPL turned negative on April 08, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In 19 of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at 46%.
AAPL moved below its 50-day Moving Average on May 05, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for AAPL crossed bearishly below the 50-day moving average on April 22, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 53%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AAPL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 51%.
The Aroon Indicator for AAPL entered a downward trend on May 13, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 80%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.23.
The Tickeron Profit vs. Risk Rating rating for this company is 3 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock better than average.
The Tickeron PE Growth Rating for this company is 37 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 39 (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 58 (best 1 - 100 worst), indicating steady price growth. AAPL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (35.336) is normal, around the industry mean (24.030). P/E Ratio (23.923) is within average values for comparable stocks, (30.111). Projected Growth (PEG Ratio) (2.666) is also within normal values, averaging (7.162). AAPL has a moderately low Dividend Yield (0.006) as compared to the industry average of (0.025). P/S Ratio (6.321) is also within normal values, averaging (22.522).
TVs, telephones, washing machines, home speakers and even home-office equipment like computers and printers…the list is virtually endless when it comes to consumer electronics and appliances. And, with ‘smarthomes’ increasingly becoming the reality, we could see a sharp surge in high-tech gadgets (including robotic appliances) making their way into our homes– and therefore spelling plenty opportunities in the related industries. Consumers account for 70% of US GDP, and their purchases of high-functioning electronics could make significant dents in the economy’s health. Sony Corp., Whirlpool and iRobot are some of the major consumer electronics/appliances makers.
The average market capitalization across the Electronics/Appliances Industry is 67.5B. The market cap for tickers in the group ranges from 129.1K to 2.4T. AAPL holds the highest valuation in this group at 2.4T. The lowest valued company is IALS at 129.1K.
- 5/10/22 5:36 AM: Apple (AAPL, $152.06) saw a $91.7B market cap decrease this week
- 5/5/22 4:57 AM: Apple (AAPL, $166.02) saw a $131.9B market cap increase this week
- 5/3/22 8:18 AM: Apple (AAPL, $157.96) saw a $101.5B market cap decrease this week
The average weekly price growth across all stocks in the Electronics/Appliances Industry was -4.16%. For the same Industry, the average monthly price growth was -11.81%, and the average quarterly price growth was -25.38%. SMDM experienced the highest price growth at 18.82%, while AMOSF experienced the biggest fall at -81.71%.
- 5/5/22 4:57 AM: Apple (AAPL, $166.02) was a top weekly gainer, with a +6.04% jump
- 4/12/22 7:12 AM: Apple (AAPL, $165.75) was a top loser this week, declining -7.11%
- 3/26/22 6:06 AM: Apple (AAPL, $174.72) was a top weekly gainer, with a +6.55% jump
The average weekly volume growth across all stocks in the Electronics/Appliances Industry was -3.34%. For the same stocks of the Industry, the average monthly volume growth was 62.47% and the average quarterly volume growth was 42.84%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the MA200MA50 Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 25%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.2.
36 stocks in the group of tickers confirmed the positive outlook based on the RSI indicator with average odds of 78%.
The most notable companies in this group are Apple (NASDAQ:AAPL), QUALCOMM (NASDAQ:QCOM), Nokia Corp (NYSE:NOK), Ericsson (NASDAQ:ERIC), Ciena Corp (NYSE:CIEN), CommScope Holding Company (NASDAQ:COMM), Avaya Holdings Corp (NYSE:AVYA), Casa Systems (NASDAQ:CASA).
The average market capitalization across the group is 38B. The market cap for tickers in the group ranges from 0 to 2.4T. AAPL holds the highest valuation in this group at 2.4T. The lowest valued company is AATV at 0.
- 5/10/22 5:36 AM: Apple (AAPL, $152.06) saw a $91.7B market cap decrease this week
- 5/5/22 4:57 AM: Apple (AAPL, $166.02) saw a $131.9B market cap increase this week
- 5/3/22 8:18 AM: Apple (AAPL, $157.96) saw a $101.5B market cap decrease this week
The average weekly price growth across all stocks in the group was -5.02%. For the same group, the average monthly price growth was -10.97%, and the average quarterly price growth was -28.14%. SWIR experienced the highest price growth at 25.12%, while GZIC experienced the biggest fall at -36.16%.
- 5/14/22 4:23 AM: Sonim Technologies (SONM, $0.6) is a top weekly loser for penny stocks, falling -22.59%
- 5/14/22 4:23 AM: Westell Technologies (WSTL, $1.24) was a top loser this week, declining -5.73%
- 5/14/22 4:23 AM: Edgewater Wireless Systems (KPIFF, $0.06) was a top loser this week, declining -10.65%. Expect a Downtrend continuation
The average weekly volume growth across all stocks in the group was 1105.82%. For the same stocks of the group, the average monthly volume growth was 147.31% and the average quarterly volume growth was 264.56%
- 5/6/22 5:00 AM: The volume for Sonim Technologies stock increased for one day, resulting in a record-breaking daily growth of 1,012% of the 65-Day Volume Moving Average
- 5/4/22 8:21 AM: The volume for Digital Ally stock increased for one day, resulting in a record-breaking daily growth of 261% of the 65-Day Volume Moving Average
- 4/22/22 6:32 AM: The volume for Blonder Tongue Laboratories stock increased for one day, resulting in a record-breaking daily growth of 214% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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