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Macquarie Reaffirms a Outperform Rating on Apple (NASDAQ:AAPL) and $170.0 Target

Macquarie Research Analyst Rating Change Apple NASDAQ:AAPL

Apple (NASDAQ:AAPL) Rating Reconfirmed

In analysts report revealed to clients on today, Macquarie reconfirmed their Outperform rating on Apple (NASDAQ:AAPL)’s Stock. The target gives a potential upside of 14.11 % from firm’s close price.

NASDAQ:AAPL is now trading 0.00% lower at $148.98 as of 8:34 AM New York time. Apple’s stock is 0% in the past 200 days. It has underperformed the S&P500, which has added 6.00% in the same time period.

According to data compiled by Thomson Reuters, Apple (NASDAQ:AAPL)’s stock is covered by 36 equity analysts across the Street, with 0 analysts giving it a Sell rating, 39 a Buy rating, while 8 consider it a Hold. The 12-month consensus target price for the stock is $124.23, which reflects an downside potential of 16.61% over the current price.

Institutional Ownership

Independent Investors Inc had the largest stake with ownership of 420,398 shares as of Q2 2015 for 21.98% of the stocks portfolio. Diker Management Llc is another quite bullish active investment manager who is possessing 531,733 shares of Apple or 21.43% of their stocks portfolio. Furthermore, Dock Street Asset Management Inc have 18.09% of their stocks portfolio invested in the company for 231,983 shares. The United Kingdom-based fund Parus Finance (Uk) Ltd disclosed it had bought so far a stake worth about 17.83% of the active investment manager’s stock portfolio in Apple. The Washington-based fund Baker Boyer National Bank is also positive about the stock, possessing 1.05M shares or 16.54% of their stocks portfolio.

Apple (NASDAQ:AAPL) Profile

Apple IncApple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.

Apple (NASDAQ:AAPL) closed at $148.98 yesterday. A total of 434,213 shares of the company’s stock traded hands. This is down from average of 29.27 million shares. Apple has a 52 week low of $91.50 and a 52 week high of $156.65. The company has a market cap of $746.64 billion and a P/E ratio of 17.42.

Get the latest Apple (NASDAQ:AAPL) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Macquarie Reaffirms a Outperform Rating on Apple (NASDAQ:AAPL) and $170.0 Target appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Macquarie Reaffirms a Outperform Rating on Apple (NASDAQ:AAPL) and $170.0 Target


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