Apple shares got a price target hike from Jefferies on the iPhone maker’s 5G prospoects.
Jefferies analyst Kyle McNealy raised his price target from $370 to $405. McNealy expects there to be four iPhone 12 models, including the two higher-end Pro models with 5G millimeter wave technology.
“Specifically, we feel better about Apple’s ability to hold retail pricing for the fall 5G launch relatively consistent with last year while maintaining solid gross margin performance,” McNealy mentioned in a note.
Tickeron's A.I.-powered scorecard rates Apple a STRONG BUY.
AAPL's Aroon indicator reaches into Uptrend on June 18, 2020
For traders, this could mean going long on the ticker or exploring call options in the next month. In 259 of 407 cases where AAPL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 64%.
Current price $353.45 is above $323.99 the highest resistance line found by A.I. Throughout the month of 05/18/20 - 06/18/20, the price experienced a +12% Uptrend. During the week of 06/11/20 - 06/18/20, the stock enjoyed a +5% Uptrend growth.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) just turned positive. Considering data from situations where AAPL's MACD histogram became positive, in 24 of 38 cases, the price rose further within the following month. The odds of a continued Uptrend are 63%.
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Stochastic Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. In 26 of 57 cases where AAPL's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 46%.
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 84%. During the last month, the daily ratio of advancing to declining volumes was 2.4 to 1.
The Tickeron Price Growth Rating for this company is 5 (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 Profit vs. Risk Rating rating for this company is 6 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock better than average.
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 16 (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 93 (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 (19.39) is slightly higher than the industry average of (3.04). P/E Ratio (27.57) is within average values for comparable stocks, (355.16). Projected Growth (PEG Ratio) (2.67) is also within normal values, averaging (14.99). Dividend Yield (1.37) settles around the average of (0.97) among similar stocks. P/S Ratio (4.08) is also within normal values, averaging (5.64).