Now Is A Suitable Moment For A Long-Term Purchase Of Apple Inc (NASDAQ: AAPL)

Currently, there are 15.55B common shares owned by the public and among those 15.32B shares have been available to trade.

The company’s stock has a 5-day price change of 7.92% and 23.10% over the past three months. AAPL shares are trading 10.37% year to date (YTD), with the 12-month market performance up to 15.52% higher. It has a 12-month low price of $164.07 and touched a high of $220.20 over the same period. AAPL has an average intraday trading volume of 65.44 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.03%, 16.44%, and 16.57% respectively.

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Institutional ownership of Apple Inc (NASDAQ: AAPL) shares accounts for 61.94% of the company’s 15.55B shares outstanding.

It has a market capitalization of $3258.34B and a beta (3y monthly) value of 1.25. The stock’s trailing 12-month PE ratio is 33.04, while the earnings-per-share (ttm) stands at $6.43. The company has a PEG of 3.15 and a Quick Ratio of 0.99 with the debt-to-equity ratio at 1.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.07% over the week and 1.97% over the month.

Earnings per share for the fiscal year are expected to increase by 7.50%, and 9.39% over the next financial year. EPS should shrink at an annualized rate of 10.50% over the next five years, compared to 15.55% over the past 5-year period.

Looking at the support for the AAPL, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on June 11, 2024, with the firm’s price target at $200-$230. Itau BBA coverage for the Apple Inc (AAPL) stock in a research note released on May 03, 2024 offered a Market Perform rating with a price target of $188. Monness Crespi & Hardt was of a view on May 03, 2024 that the stock is Buy, while Bernstein gave the stock Outperform rating on April 29, 2024, issuing a price target of $195. Maxim Group on their part issued Hold rating on April 17, 2024.

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