In a report released today, Nehal Chokshi from Maxim Group reiterated a Hold rating on Apple (NASDAQ: AAPL), with a price target of $221. The company’s shares closed yesterday at $221.07, close to its 52-week high of $229.67.
Chokshi wrote:
“iPhone pricing strategy taking advantage of one more year of 3D sensing module remaining unique to AAPL, raising iPhone ASP estimate from a 5% y/ y decline to a 5% y/y increase for FY19. Raising FY19 estimates and PT accordingly to $221, from $200, but reiterating Hold rating.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 19.5% and a 65.4% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Apple has an analyst consensus of Moderate Buy, with a price target consensus of $225.62, representing a 2.1% upside. In a report issued on August 31, Nomura also maintained a Hold rating on the stock with a $210 price target.
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Apple’s market cap is currently $1070.6B and has a P/E ratio of 20.04. The company has a Price to Book ratio of 9.31.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Last month, Arthur Levinson, a Director at AAPL sold 35,000 shares for a total of $7,236,000.
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.
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