Apple (AAPL, $166.13) shares rise, on overweight rating at KeyBanc
On Monday, Apple shares climbed, after analysts at KeyBanc Capital Markets initiated coverage of the iPhone maker’s stock an 'overweight' rating and a $191 price target.
According to KeyBanc analyst Brandon Nispel, Apple is growing its user base across all of its products and geographies, which should boost growth in the company’s key services unit.
"We see growth and margin upside, strong shareholder-friendly capital allocation, and potential for new products and services, which create a strong investment profile," Nispel said. "While Apple is expensive by historical valuations, we find AAPL attractive relative to other mega-caps given AAPL's superior ROIC characteristics."
AAPL's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for AAPL turned positive on May 31, 2023. Looking at past instances where AAPL's MACD turned positive, the stock continued to rise in of 37 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on AAPL as a result. In of 70 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AAPL advanced for three days, in of 340 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 410 cases where AAPL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
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 of 62 cases within the following month. The odds of a continued downward trend are .
AAPL broke above its upper Bollinger Band on May 30, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a 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 PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 Price Growth Rating for this company is (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 (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 (44.843) is normal, around the industry mean (70.600). P/E Ratio (30.030) is within average values for comparable stocks, (43.677). Projected Growth (PEG Ratio) (2.699) is also within normal values, averaging (2.059). AAPL has a moderately low Dividend Yield (0.005) as compared to the industry average of (0.028). P/S Ratio (7.391) is also within normal values, averaging (100.241).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a manufacturer of mobile communication, media devices, personal computers, and portable digital music players
Industry ElectronicsAppliances
AAPL and
Correlation & Price change
A.I.dvisor indicates that over the last year, AAPL has been loosely correlated with SONY. These tickers have moved in lockstep 62% of the time. This A.I.-generated data suggests there is some statistical probability that if AAPL jumps, then SONY could also see price increases.
| Ticker / NAME | Correlation To AAPL | 1D Price Change % | ||
|---|---|---|---|---|
| AAPL | 100% | +0.07% | ||
| SONY - AAPL | 62% Loosely correlated | -1.12% | ||
| GPRO - AAPL | 53% Loosely correlated | -0.24% | ||
| VUZI - AAPL | 48% Loosely correlated | -2.62% | ||
| VZIO - AAPL | 44% Loosely correlated | -2.10% | ||
| LPL - AAPL | 42% Loosely correlated | -1.79% | ||
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