After Bank of America Securities and Wedbush gave Apple (NASDAQ: AAPL) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Laura Martin maintained a Buy rating on Apple today and set a price target of $170.00. The company’s shares closed last Tuesday at $158.26.
According to TipRanks.com, Martin is a 5-star analyst with an average return of 12.7% and a 47.7% success rate. Martin covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment, Paramount Global Class B, and Tremor International.
Apple has an analyst consensus of Strong Buy, with a price target consensus of $193.32, a 21.7% upside from current levels. In a report released today, Wedbush also maintained a Buy rating on the stock with a $200.00 price target.
Based on Apple’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $124 billion and net profit of $34.63 billion. In comparison, last year the company earned revenue of $111 billion and had a net profit of $28.76 billion.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Arthur Levinson, a Director at AAPL sold 1,986 shares for a total of $344,154.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.
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