Investment analysts at Piper Jaffray (NYSE: PJC) boosted their price target on shares of Apple (NASDAQ: AAPL) from $607.00 to $670.00 in a note issued to investors on Wednesday.
Separately, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Apple in a research note to investors on Wednesday. Analysts at JPMorgan Chase & Co. (NYSE: JPM) reiterated an “overweight” rating on shares of Apple in a research note to investors on Wednesday. Also, analysts at ThinkEquity reiterated a “buy” rating on shares of Apple in a research note to investors on Wednesday.
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 Company’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 Corporation’s patent portfolio.
Shares of Apple traded up 6.24% during mid-day trading on Wednesday, hitting $446.66. Apple has a one year low of $310.50 and a one year high of $431.37. The stock’s 50-day moving average is $406.1 and its 200-day moving average is $391.1. The company has a market cap of $415.1 billion and a P/E ratio of 15.19.