J.P. Morgan analyst Mark Moskowitz says that there is nothing to worry about Apple Inc. (NASDAQ:AAPL)’s apparent cutting back on parts orders for the iPhone 5. Moskowitz points out in a note sent to clients that recent rumors have suggested a 20 percent drop in Apple’s March-quarter supply chain orders for the iPhone 5. That report has a number of analysts worrying over Apple’s short-run outlook, but Moskowitz thinks their fears are overstated.
The analyst was unable to confirm the specific reason for the decline but he believes an improvement in production might have caused it. Apple may have at the start forced its suppliers to increase manufacturing of the new phone, and the downshift in orders may be just an aftereffect.[article_detail_ad_1]
Moskowitz said that slowing down from ‘white hot’ order activity does not indicate the world is ending. In reality, the move could actually bring positive results for Apple. He said that they also believe that the supply chain adjustments could mean that manufacturing returns on iPhone 5 have gone better, which suggests Apple’s gross margin profile could bounce back to 40 percent, which would be beneficial.
The stock price and market worth
Apple stock opened lower today and its market value floats around 498.66B. AAPL traded up 2.90% during last trading session, completing the business day at $533.90. The share price of AAPL traded yesterday at minimum $520.25 and marked $534.90 as an intraday high. The company now has a market value of $502.24 billion.
Also, see its Short-term price outlook
The stock, after recent close, is -8.19% down their SMA 50 and 23.93% off the 52-week high. The worst hit in its 52 week range is $380.48 per share, with $705.07 as its 52 week best price that compares with a latest closing price of $533.90. Its latest closing price has a distance of -4.16% from SMA20 and is -10.64% up than SMA200.
Easy-to-read past performance data
With recent gain, the year-to-date (YTD) performance reflected a 33.00% gain above last year. During the past month the stock advanced 1.18%, bringing three-month performance to -23.36% and six-month performance to -8.05%.
Stock Beta and Volatility
For this company, beta value at 1.21 represents it is more volatile to the shift in the market. If we take a look on its volatility, 2.70% was seen in a week and for the month it was 2.89%.
Analysts’ opinion
For the stock, mean recommendation this week is 1.8. Sharing price target summary; nearly 48 brokerages have a mean PT as $754.02 and median PT of $750.00 while the highest price target set by those rating agencies was $1,111.00 and lowest PT was $270.00.
Leave a Reply