Apple, Inc (NASDAQ: AAPL)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Zacks Investment Research in a research note issued to investors on Tuesday. The analysts currently have a $443.00 price target on the stock.
Zacks’ analyst wrote, “Apple ended fiscal 2011 on a disappointing note after missing the fourth quarter Zacks Consensus earnings Estimate by $0.26. The miss was primarily driven by lower iPhone sales in the quarter. However, Apple provided a robust first quarter outlook based on recently launched iPhone 4S sales. We believe Apple remains the biggest growth story primarily on account of its superior product pipeline, Apps, recently launched iCloud, the upcoming iPad update, loyal customer base and international expansion going forward. Moreover, strong holiday season sales will drive upside in first quarter. However, increasing competition, legal complexities and a new management team compel us to remain on the sidelines. We thus maintain our Neutral recommendation and set a price target of $443.00.”
Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a “conviction buy” rating on shares of Apple, Inc in a research note to investors on Monday. Analysts at Needham & Company reiterated a “buy” rating on shares of Apple, Inc in a research note to investors on Monday.
Apple Inc. (Apple) along with its subsidiaries is engaged in designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Companyâ€™s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings. It also sells and delivers digital content and applications through the iTunes Store, App Store, iBookstore, and Mac App Store.The Company sells to consumers, small and mid-sized businesses (SMB), and education, enterprise and government customers. During the year ended November 24, 2011, the Company, as part of a consortium, acquired Nortel Networks Corporationâ€™s patent portfolio.
Shares of Apple, Inc traded up 0.36% during mid-day trading on Tuesday, hitting $423.24. Apple, Inc has a 52 week low of $310.50 and a 52 week high of $427.75. The stock’s 50-day moving average is $392.3 and its 200-day moving average is $385.2. The company has a market cap of $393.4 billion and a price-to-earnings ratio of 15.24.