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Market Update (NASDAQ:AAPL): Apple’s App Store still dominates app download sales

[Business Insider] – Apple’s App Store accounted for 58% of global app revenue last year, compared to Google… Read more on this. Apple Inc. (AAPL) , valued at $508.42B, started trading this morning at $93.00. Looking at the stock, its one day range is $92.59 to $93.77 with its 52-week range being $91.85 to $132.97. Priced at 11.27x this year’s forecasted earnings, AAPL shares are relatively expensive compared to the industry’s 10.23x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.28 per share annually in dividends, yielding 2.46%. According to a consensus of 36 analysts, the earnings estimate of $1.39 per share would be $0.46 worse than the year-ago quarter and a $0.38 sequential decrease. The full-year EPS estimate is $8.27, which would be a $0.95 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $42.18 Billion. If reported, that would be a 14.96% decrease over the year-ago quarter. More recently, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. With the above information in mind, readers should note that the average price target is $126.70, which is 36.24% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – TSMC Will Meet Its Sales Target Despite Apple’s Fiscal Q2 Miss: Bernstein Stock Update: Apple Inc (NASDAQ:AAPL) – Apple Watch Sales Could Tank This Year With No Big Redesign Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL)
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