Apple (AAPL, $378.93) got price target hike from Deutsche Bank analyst
Apple shares got a price target hike from Deutsche Bank analyst Jeriel Ong .
Ong boosted his target on the iPhone maker’s share price to $400 from $380. He affirmed his buy rating.
Although the analyst did caution about what he thinks is the stock price’s overreaction to the positive data points over the past two months, he is optimistic on the company's fundamentals.
Amid his confidence about the company, the downside risks that Ong indicated include a more prolonged second wave of covid-19, iPhone delays hurting the stock price(which investors appear to largely be looking through now, according to Ong), and lower spending in the second half of the year due to smaller wallets and higher unemployment.
Nevertheless, Apple can “work from present levels” according to Ong.
According to Tickeron, AAPL's Aroon indicator reaches into Uptrend on July 07, 2020
For traders, this could mean going long on the ticker or exploring call options in the next month. In 271 of 419 cases where AAPL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 65%.
Current price $378.93 is above $323.99 the highest resistance line found by A.I. Throughout the month of 06/04/20 - 07/07/20, the price experienced a +16% Uptrend. During the week of 06/29/20 - 07/07/20, the stock enjoyed a +3% Uptrend growth.
Technical Analysis (Indicators)
Bearish Trend Analysis
The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 19 of 53 cases where AAPL's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 36%.
The Stochastic Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 26 of 37 cases where AAPL's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 70%.
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 16 of 56 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 29%.
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 1.7 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 12 (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 91 (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 (20.55) is very high in comparison to the industry average of (2.15). P/E Ratio (29.22) is within average values for comparable stocks, (355.39). Projected Growth (PEG Ratio) (2.67) is also within normal values, averaging (14.91). Dividend Yield (1.37) settles around the average of (0.94) among similar stocks. P/S Ratio (4.08) is also within normal values, averaging (5.63).
The Tickeron Seasonality Score of 95 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
Aroon Indicator for AAPL shows an upward move is likely
AAPL's Aroon Indicator triggered a bullish signal on December 03, 2024. 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 366 similar instances where the Aroon Indicator showed a similar pattern. In of the 366 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 November 14, 2024. 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 November 19, 2024. Looking at past instances where AAPL's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
AAPL moved above its 50-day moving average on November 18, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for AAPL crossed bullishly above the 50-day moving average on November 25, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 343 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 2 days. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 December 03, 2024. 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.
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 Price Growth Rating for this company is (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 (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 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 (35.461) is normal, around the industry mean (85.677). P/E Ratio (26.429) is within average values for comparable stocks, (47.267). Projected Growth (PEG Ratio) (2.092) is also within normal values, averaging (1.869). AAPL has a moderately low Dividend Yield (0.006) as compared to the industry average of (0.025). P/S Ratio (6.925) is also within normal values, averaging (74.200).
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General Information
a manufacturer of mobile communication, media devices, personal computers, and portable digital music players
Industry ElectronicsAppliances