Apple (AAPL, $315.29) gets price target hikes, on optimistic demand outlooks
Apple got price target hikes from two analysts.
Deutsche Bank analyst Jeriel Ong boosted his target to $320 from $305 on the iPhone maker’s shares, citing the company’s store reopenings as a “directional sign” of improvement and a movement toward a more normalized demand environment for the company. Despite the optimistic outlook, Ong warned about the effects of high unemployment and “smaller consumer pockets” on the next-generation iPhone launch that is expected in September/October.
Jefferies analyst Kyle McNealy lifted his price target to $370 from $350, on what he perceives to be Apple’s strong growth through online channels since the beginning of covid-19 crisis. He also mentioned very strong demand for new iPhone SE through April. "Initial interest in the iPhone SE is quite remarkable as evidenced through our page traffic mix data," McNealy said in a note to investors.
Tickeron's A.I.-powered scorecard rates Apple a STRONG BUY.
Current price $315.25 crossed the support line at $314.97 and is trading between $323.99 resistance and $314.97 support lines. Throughout the month of 04/23/20 - 05/26/20, the price experienced a +15% Uptrend. During the week of 05/18/20 - 05/26/20, the stock enjoyed a +0.56% Uptrend growth.
Bullish Trend Analysis:
The Aroon Indicator entered an Uptrend today. In 247 of 395 similar cases where AAPL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 63%.
Fundamental Analysis (Ratings):
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 85%. During the last month, the daily ratio of advancing to declining volumes was 1.41 to 1.
The Tickeron Profit vs. Risk Rating rating for this company is 8 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 11 (best 1 - 100 worst), indicating outstanding 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 PE Growth Rating for this company is 14 (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 SMR rating for this company is 17 (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 Valuation Rating of 92 (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: AAPL's P/B Ratio (17.46) is slightly higher than the industry average of (3.02). P/E Ratio (24.83) is within average values for comparable stocks, (387.26). Projected Growth (PEG Ratio) (2.67) is also within normal values, averaging (15.77). Dividend Yield (1.37) settles around the average of (1.01) among similar stocks. P/S Ratio (4.08) is also within normal values, averaging (5.68)
Aroon Indicator for AAPL shows an upward move is likely
AAPL's Aroon Indicator triggered a bullish signal on June 02, 2023. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 412 similar instances where the Aroon Indicator showed a similar pattern. In of the 412 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
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 .
The Moving Average Convergence Divergence (MACD) for AAPL just 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 .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AAPL advanced for three days, in of 338 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near 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 June 01, 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 88, 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 fairly steady price growth. AAPL’s price grows at a lower 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 (45.872) is normal, around the industry mean (93.066). P/E Ratio (30.675) is within average values for comparable stocks, (43.634). Projected Growth (PEG Ratio) (2.475) is also within normal values, averaging (2.077). AAPL has a moderately low Dividend Yield (0.005) as compared to the industry average of (0.028). P/S Ratio (7.541) is also within normal values, averaging (104.308).
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% | +0.48% | ||
| SONY - AAPL | 62% Loosely correlated | +1.40% | ||
| GPRO - AAPL | 53% Loosely correlated | +3.87% | ||
| VUZI - AAPL | 48% Loosely correlated | +2.45% | ||
| VZIO - AAPL | 43% Loosely correlated | +2.81% | ||
| LPL - AAPL | 42% Loosely correlated | +1.14% | ||
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