Apple Raised to Street-High Target of $375 as Optimism Grows

Apple employees prepare the newly released iPhone 6 for sale at the Apple store in Berlin

Apple could be the first $2 trillion company by the end of 2021, analyst predicts

California Public Employees Retirement System now owns 10,844,434 shares of the iPhone maker's stock worth $2,428,828,000 after purchasing an additional 2,382,156 shares in the last quarter. Morgan Stanley increased its holdings in Apple by 5.8% during the 2nd quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of Dover by 7.0% during the fourth quarter. Renaissance Technologies LLC bought a new position in shares of Apple during the second quarter valued at $459,677,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Shares of AAPL opened at $311.34 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.96. The firm's 50 day simple moving average is $283.66 and its 200 day simple moving average is $237.71. Apple Inc. has a 12-month low of $150.05 and a 12-month high of $317.57. The company has a market capitalization of $1,375.80 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. Though the company's iPhone no longer accounts for half of its quarterly revenue, the research firm expects 5G to provide a potent shot-in-the-arm for the flagship product. During the same quarter in the prior year, the business posted $2.91 earnings per share. The business's quarterly revenue was up 1.8% compared to the same quarter past year. Equities research analysts predict that Apple will post 13.15 EPS for the current year.

However, as mentioned by 9to5Mac, not everyone shares the above optimism for APPL, as Deutsche Bank expects the stock to lose 6% of its value by the end of the year, and Goldman Sachs suggested the company will lose a third of its value this year. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.05% of the company's stock.

Apple (NASDAQ:AAPL)'s stock had its "buy" rating reissued by research analysts at Tigress Financial in a research note issued on Monday, December 30th, TipRanks reports. Goldman Sachs Group set a $192.00 target price on shares of Apple and gave the stock a "neutral" rating in a report on Wednesday, November 6th.

As per the sources, Ives has a reputation of Wall Street's largest bull on Apple's stock. Raymond James reiterated an "outperform" rating and set a $280.00 price target (up from $250.00) on shares of Apple in a research note on Monday, October 21st. The company noted a massive 86% hike in 2019 in the stock market and has already recorded an 8% growth since the start of the new year. The firm had previously suggested $ 400 as a high-end possibility, while fixing its target price for the end of the year at $ 350. Based on our increased C'21 estimates and expectations the shares can sustain trading at higher multiples, we increase our price target from $275 to $355 and reiterate our Buy rating.

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