Apple Inc. (NASDAQ:AAPL) announced that James A. Bell, former chief financial officer and corporate president of The Boeing Company, has been elected to Apple’s board of directors. Bell brings more than four decades of experience in finance, strategic planning and leadership in complex organizations. During his 38-year career at Boeing, he also oversaw Boeing Capital Corporation and Boeing Shared Services, and was interim CEO of The Boeing Company in 2005.
“James brings a wealth of global, financial and industrial experience from his successful career at Boeing as corporate president and CFO,” said Tim Cook, Apple’s CEO. “I am thrilled to welcome him to Apple’s board of directors and I look forward to working with him.”
“We look for outstanding individuals to strengthen our board’s breadth of talent and depth of knowledge, and we are very happy to have identified a fantastic person in James Bell,” said Art Levinson, Apple’s chairman. “I’m confident that he will make many important contributions to Apple.”
“I am an avid user of Apple products and have a tremendous respect for the company’s ability to innovate,” said Bell. “I am delighted to join the Apple board and look forward to contributing to its continued success in any way I can.”
Bell is a member of the board of directors of JP Morgan Chase, Dow Chemical Company, CDW, and a Trustee of Chicago’s Rush University Medical Center. He has also worked with New Leaders for New Schools to help develop talented teachers and principals, and served on many community-based boards. Bell attended California State University, Los Angeles where he earned a bachelor’s degree in Accounting. (Original Source)
Shares of Apple opened today at $109.07 and are currently trading down at $107.75. AAPL has a 1-year high of $134.54 and a 1-year low of $92. The stock’s 50-day moving average is $112.51 and its 200-day moving average is $122.31.
On the ratings front, Apple has been the subject of a number of recent research reports. In a report issued on September 28, Sterne Agee CRT analyst Rob Cihra initiated coverage with a Buy rating on AAPL and a price target of $150, which represents a potential upside of 37.5% from where the stock is currently trading. Separately, on the same day, FBR’s Daniel Ives maintained a Buy rating on the stock and has a price target of $175.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rob Cihra and Daniel Ives have a total average return of 14.3% and 2.1% respectively. Cihra has a success rate of 60.4% and is ranked #332 out of 3755 analysts, while Ives has a success rate of 44.2% and is ranked #1234.
The street is mostly Bullish on AAPL stock. Out of 37 analysts who cover the stock, 27 suggest a Buy rating , 9 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $147.68, which implies an upside of 35.4% from current levels.