This Data Shows Just How Strong Apple Inc. (NASDAQ: AAPL) Stock Is

The trading price of Apple Inc. (NASDAQ:AAPL) floating higher at last check on Tuesday, January 17, closing at $135.37, 0.45% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $131.66 and $134.92. The company’s P/E ratio in the trailing 12-month period was 22.08, while its 5Y monthly beta was 1.25. In examining the 52-week price action we see that the stock hit a 52-week high of $179.61 and a 52-week low of $124.17. Over the past month, the stock has lost -7.36% in value.

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Apple Inc., whose market valuation is $2122.30 billion at the time of this writing, is expected to release its quarterly earnings report Jan 25, 2023 – Jan 30, 2023. The dividend yield on the company stock is 0.68%, while its Forward Dividend ratio is 0.92. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $2.13 per share this quarter, however they have predicted annual earnings per share of $6.43 for 2023 and $6.9 for 2024. It means analysts are expecting annual earnings per share growth of 5.20% this year and 7.30% next year.

Analysts have forecast the company to bring in revenue of $128.38 billion for the current quarter, with the likely lows of $122.77 billion and highs of $135.4 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $411.77 billion. The company’s revenue is forecast to grow by 4.40% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Apple Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest AAPL has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned AAPL a recommendation rating is 41. Out of them, 8 rate it a Hold, while 24 recommend Buy, whereas 6 assign an Overweight rating. 1 analyst(s) have tagged Apple Inc. (AAPL) as Underweight, while 2 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.53, which symbolizes a positive outlook. A quick review shows that AAPL’s price is currently 3.35% off the SMA20 and -2.98% off the SMA50. The RSI metric on the 14-day chart is currently showing 52.21, and weekly volatility stands at 2.42%. When measured over the past 30 days, the indicator reaches 2.98%. Apple Inc. (NASDAQ:AAPL)’s beta value is currently sitting at 1.27, while the Average True Range indicator is currently displaying 4.01. With analysts defining $118.00-$200.00 as the low and high price targets, we arrive at a consensus price target of $169.72 for the trailing 12-month period. The current price is about 12.83% off the estimated low and -47.74% off the forecast high, based on this estimate. Investors will be thrilled if AAPL’s share price rises to $174.00, which is the median consensus price. At that level, AAPL’s share price would be -28.54% below current price.

To see how Apple Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: AAPL stock’s performance was 0.45% at last check in today’s session, and -23.23% in the past year, while Microsoft Corporation (MSFT) has been trading 0.05% in recent session and positioned -24.83% lower than it was a year ago. Another comparable company Alphabet Inc. (GOOG) saw its stock trading -0.74% lower in today’s session but was down -34.49% in a year. Furthermore, Alphabet Inc. (GOOGL) showed a decrease of -0.92% today while its price kept declining at -34.87% over the past year. Apple Inc. has a P/E ratio of 22.08, compared to Microsoft Corporation’s 25.78 and Alphabet Inc.’s 17.92. Also during today’s trading, the S&P 500 Index has plunged -0.28%, while the Dow Jones Industrial also saw a negative session, down -1.11% today.

An evaluation of the daily trading volume of Apple Inc. (NASDAQ:AAPL) indicates that the 3-month average is 82.55 million. However, this figure has increased over the past 10 days to an average of 78.01 million.

Currently, records show that 16.03 billion of the company’s shares remain outstanding. The insiders hold 0.07% of outstanding shares, whereasinstitutions hold 60.10%. The stats also highlight that short interest as of Oct 13, 2022, stood at 108.66 million shares, resulting in a short ratio of 1.11 at that time. From this, we can conclude that short interest is 0.68% of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 116.08 million. However, since the stock’s price has seen 3.72% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.