Apple Inc. (NASDAQ:AAPL) announced a voluntary recall of Beats Pill® XL speakers, including a refund for customers. Apple has determined that, in rare cases, the battery in the Beats Pill XL may overheat and pose a fire safety risk. The recall does not affect any other Beats or Apple products.
Because customer safety is the company’s top priority, Apple is asking customers to stop using their Beats Pill XL speakers. Customers who purchased a Beats Pill XL speaker should visit www.apple.com/support/beats-pillxl-recall for details about how to return their product to Apple, and how to receive an Apple Store® credit or electronic payment of $325.
The Beats Pill XL can be identified by the Beats “b” logo on the speaker grille and the words “beats pill XL” on the handle. The product is sold in five colors: black, metallic sky, pink, titanium and white.
The Beats Pill XL was introduced by Beats by Dre in November 2013. Apple acquired Beats in 2014. (Original Source)
Shares of Apple opened today at $130.66 and are currently trading down at $130.45. AAPL has a 1-year high of $134.54 and a 1-year low of $89.65. The stock’s 50-day moving average is $128.31 and its 200-day moving average is $120.87.
On the ratings front, Apple has been the subject of a number of recent research reports. In a report issued on June 1, Brean Murray Carret analyst Ananda Baruah reiterated a Buy rating on AAPL, with a price target of $170, which represents a potential upside of 30.1% from where the stock is currently trading. Separately, on the same day, FBR’s Daniel Ives reiterated a Buy rating on the stock and has a price target of $185.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ananda Baruah and Daniel Ives have a total average return of 0.2% and 9.5% respectively. Baruah has a success rate of 48.6% and is ranked #2383 out of 3610 analysts, while Ives has a success rate of 65.8% and is ranked #379.
The street is mostly Bullish on AAPL stock. Out of 41 analysts who cover the stock, 28 suggest a Buy rating , 11 suggest a Hold and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $151.48, which represents a potential upside of 15.9% from where the stock is currently trading.