Unlocking Growth Opportunity in Apple Inc. (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) price on Friday, Jan 08, rose 1.04% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $132.28.

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A look at the stock’s price movement, the level at last check in today’s session was $130.92, moving within a range at $130.26 and $132.63. The beta value (5-Year monthly) was 1.28 while the PE ratio in trailing twelve months stood at 40.07. Turning to its 52-week performance, $138.79 and $53.15 were the 52-week high and 52-week low respectively. Overall, AAPL moved 5.79% over the past month.

Apple Inc.’s market cap currently stands at around $2.24 Trillion, with investors looking forward to this quarter’s earnings report slated for Jan 26, 2021- Feb 01, 2021. The company has a Forward Dividend ratio of 0.82, with its dividend yield at 0.63%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $1.4, which has seen fiscal year 2021 EPS growth forecast to increase to $3.99 and about $4.36 for fiscal year 2022. Per the data, EPS growth is expected to be 0.22% for 2021 and 0.09% for the next financial year.

Analysts have a consensus estimate of $102.27 Billion for the company’s revenue for the quarter, with a low and high estimate of $97.74 Billion and $110.21 Billion respectively. The average forecast suggests up to a 15.6% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $315.85 Billion, representing a +15.1% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that AAPL is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

40 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 9 analyst(s) rate the stock as a Hold, 24 recommend AAPL as a Buy and 4 give it an Outperform rating. Meanwhile, 1 analyst(s) rate the stock as Underperform and 2 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 3.17, with AAPL’s current price about 2.57% and 8.31% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.96, while 7-day volatility ratio is 3.38% and 2.66% in the 30-day chart. Further, Apple Inc. (AAPL) has a beta value of 1.28, and an average true range (ATR) of 3.68. Analysts have given the company’s stock an average 52-week price target of $129.07, forecast between a low of $74.1 and high of $160. Looking at the price targets, the low is -43.98% off recent price level in today’s trading while to achieve the yearly target high, it has to move +20.96%. Nonetheless, investors will most likely welcome a +2.06% jump to $135 which is the analysts’ median price.

In the market, a comparison of Apple Inc. (AAPL) and its peers suggest the former has performed considerably better. Data shows AAPL’s intraday price has changed +1.04% today and +72.72% over the past year. Comparatively, HP Inc (HPQ) has moved +0.19% so far today and only +23.03% in the past 12 months. Looking at another peer, we see that 3D Systems Corp (DDD) price has surged 27.09% on the day. However, the stock is 134.53% off its price today a year ago. If we look at the PE ratio, we find that Apple Inc.’s ratio stands at 40.07 compared to HP Inc’s 12.86 and 3D Systems Corp’s 0. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.14% and down -0.22% respectively in the last trading session.

If we refocus on Apple Inc. (NASDAQ:AAPL), historical trading data shows that trading volumes averaged 117.36 Million over the past 10 days and 114.61 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 16.82 Billion shares.

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As per Thomson Reuters, 0.07% of Apple Inc.’s shares are in the hands of company insiders while institutional holders own 59.66% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 94.72 Million on December 14, 2020, giving us a short ratio of 1. The data shows that as of December 14, 2020 short interest in Apple Inc. (AAPL) stood at 0.56% of shares outstanding, with shares short rising to 87.56 Million registered in November. Current price change has pushed the stock -1.33% YTD, which shows the risk of further decline is there. It is this reason that could see investor optimism for the AAPL stock might rise going into the next quarter.


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