AAPL: App Store Rings in 2015 with New Records

The first week of January set a new record for billings from the App Store. Apple customers worldwide spent nearly half a billion dollars on apps and in-app purchases, and New Year’s Day 2015 marked the single biggest day ever in App Store sales history. These milestones follow a breakthrough 2014, in which billings rose 50 percent and apps generated over $10 billion in revenue for developers. “This year is off to a tremendous start after a record-breaking year for the App Store and our developer community,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “We’re so proud of the creativity and innovation developers bring to the apps they create for iOS users and that the developer community has now earned over $25 billion.”… Read more

Shares of Apple opened today at $109.23 and are currently trading up at $111.67. AAPL has a 1-year high of $119.75 and a 1-year low of $70.51. The stock’s 50-day moving average is $112.86 and it’s 200-day moving average is $102.67.

On the ratings front, Apple has been the subject of a number of recent research reports. In a report released today, analyst Bill Choi from Janney Montgomery Scott maintained a Buy rating on AAPL, with a price target of $117, which implies an upside of 7.1% from current levels. Separately, on January 5, Evercore`s Rob Cihra reiterated a Buy rating on Apple shares and has a price target of $135.

One research analyst has rated the stock with a Sell rating, 8 research analysts have assigned a Hold rating and 34 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is 109.23$ which is 13.9% above where the stock opened today.

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