In a report released yesterday, Cascend from Cascend Securities maintained a Buy rating on Apple (AAPL), with a price target of $170.00. The company’s shares closed last Tuesday at $143.16, close to its 52-week high of $145.09.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple with a $138.19 average price target, a -3.8% downside from current levels. In a report issued on January 12, Wells Fargo also maintained a Buy rating on the stock with a $155.00 price target.
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Based on Apple’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $64.7 billion and net profit of $12.67 billion. In comparison, last year the company earned revenue of $64.04 billion and had a net profit of $13.69 billion.
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Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, 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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