Oppenheimer analyst Andrew Uerkwitz maintained a Hold rating on Apple (NASDAQ: AAPL) yesterday. The company’s shares closed yesterday at $221.07, close to its 52-week high of $229.67.
Uerkwitz said:
“At a press event on 9/12, Apple unveiled iPhone Series 4. New Apple Watch gets major upgrades in display, motion tracking, and heart rate monitoring, an overall bigger design leap comparing to last year’s. New iPhones come with widely anticipated performance improvements in processors, displays, cameras, and machine learning capabilities. The 6.5″ iPhone Xs Max pushes iPhone pricing to a new high of $1,499. Apple finally adds dual SIM support to iPhone, which we believe will warrant incremental share gain in near term. Overall, the press event showcased Apple’s well understood strength in pricing power and hardware-software integration.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 22.7% and a 63.2% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Himax Technologies, and Turtle Beach Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple with a $224.59 average price target, representing a 1.6% 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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