TD Cowen Forecasts Strong Price Appreciation for Apple (NASDAQ:AAPL) Stock

Apple (NASDAQ:AAPL) had its target price boosted by stock analysts at TD Cowen from $350.00 to $400.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The firm presently has a “buy” rating on the iPhone maker’s stock. TD Cowen’s price target indicates a potential upside of 32.19% from the company’s current price.

A number of other analysts have also recently issued reports on AAPL. Morgan Stanley decreased their target price on Apple from $364.00 to $360.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Friday. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $360.00 target price (down from $370.00) on shares of Apple in a research report on Friday. Finally, KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.60.

Apple Trading Down 9.2%

Shares of Apple stock traded down $30.82 during trading hours on Friday, reaching $302.61. 44,797,219 shares of the company’s stock were exchanged, compared to its average volume of 50,515,027. The firm has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.10. The company has a fifty day moving average of $309.51 and a 200-day moving average of $281.25. Apple has a 52-week low of $201.50 and a 52-week high of $344.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts forecast that Apple will post 8.76 EPS for the current fiscal year.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently made changes to their positions in AAPL. LCM Capital Management Inc increased its holdings in shares of Apple by 1.2% during the second quarter. LCM Capital Management Inc now owns 44,726 shares of the iPhone maker’s stock valued at $12,942,000 after purchasing an additional 521 shares during the period. WealthCare Asset Management LLC increased its position in Apple by 132.8% during the second quarter. WealthCare Asset Management LLC now owns 44,244 shares of the iPhone maker’s stock worth $12,802,000 after acquiring an additional 25,241 shares during the period. Invenio Wealth Partners LLC grew its stake in shares of Apple by 1.5% during the second quarter. Invenio Wealth Partners LLC now owns 14,443 shares of the iPhone maker’s stock valued at $4,179,000 after purchasing an additional 217 shares during the last quarter. GatePass Capital LLC boosted its stake in Apple by 8.4% in the second quarter. GatePass Capital LLC now owns 5,628 shares of the iPhone maker’s stock valued at $1,629,000 after acquiring an additional 434 shares during the last quarter. Finally, AGP Franklin LLC grew its position in shares of Apple by 2.7% in the 2nd quarter. AGP Franklin LLC now owns 21,592 shares of the iPhone maker’s stock valued at $6,248,000 after purchasing an additional 564 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported a record June quarter, with revenue of $109.4 billion, up 16% year over year, and diluted EPS of $2.02, up 29%. Results exceeded consensus estimates. Apple reports third quarter results
• Positive Sentiment: iPhone revenue surged 22% to $54.3 billion, while Mac revenue rose 29% to $10.4 billion, demonstrating resilient demand even as Apple has raised prices on some products. Apple revenue and profits beat expectations
• Positive Sentiment: Apple’s active installed base reached a record, and management highlighted long-term opportunities in consumer AI, including a more capable Siri and potential paid AI features. Several analysts maintained Buy or Overweight ratings, with targets as high as $365. Apple’s hybrid AI strategy
• Neutral Sentiment: Apple declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. The company is also launching a U.S. leasing program that could encourage more frequent device upgrades.
• Negative Sentiment: Fourth-quarter revenue guidance of $111.7 billion to $113.7 billion was below the roughly $114.3 billion consensus estimate. Management warned that “very significant” supply constraints would affect iPhones, Macs and iPads, while CEO Tim Cook described memory-price pressure as a “hundred-year flood.” Apple slides as supply snags cloud outlook
• Negative Sentiment: Investors are concerned that rising memory costs will pressure margins and that tariff refunds, which added approximately $0.11 to quarterly EPS and benefited gross margin, will not recur. Apple is evaluating alternatives, including possible product-price increases.
• Negative Sentiment: Services revenue reached a record $30.7 billion but missed expectations, affected by foreign-exchange headwinds, weaker gaming activity and App Store changes. China performance also disappointed, adding to concerns about future growth. Apple services growth concerns
• Negative Sentiment: At approximately 40 times earnings after a sharp rally and a $5 trillion market capitalization, AAPL’s valuation leaves less room for execution or guidance disappointments. Tim Cook’s planned September departure also adds leadership-transition uncertainty.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.