Apple Inc. (NASDAQ:AAPL) has made available a regular update to its Labor and Human Rights page to stating its steps taken to stop suppliers in its chain, such as Foxconn in China, from compelling workers to put in long hours.
The company’s December update cites that 1 million workers are now being tracked. The figure is higher compared with 900k in November and 500k when the program was launched in January. Apple (AAPL) never demands workers to work for more than 60 hours in a week, which is in accordance with Chinese labor law. Sorry to say, it faced a fall in compliance from October’s 90% level, back to the 88% levels of September. This is also lower than the August high of 97%.[article_detail_ad_1]
This is certainly because of the rush to get the iPhone 5, iPod touch 5th gen, iPad mini and iPad 4 out to customers. Apple comments that there are limited peak periods when they allow work beyond the 60 hour limit only for those workers that volunteer to do so. That allowance became the cause of Apple’s compliance levels down.
Make an opinion on the latest price movement of AAPL using some technical indicators
The Apple stock closed at $518.83, up 9.04 points or 1.77% from previous close and at a distance of -6.94% from 20-day simple moving average. In the last trading session, the stock’s price moved -13.18% below its 200 day moving average, changing hands as low as $501.23 per share. The stock is currently trading -11.24% down its SMA 50.
How well the stock has been performing?
The percentage change in the price over the past fifty two weeks remained at +31.03%. The price range in the same period had a highest hit of $705.07 on Sep 21, 2012 while lowest level during that period was $387.26 on Dec 20, 2011. The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $750.00. The stock in last 12 months gained 37.68% and has advanced 29.24% since the beginning of this year.
Does stock market trend influences this stock?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.21. To measure price-variation, we found this stock’s volatility over a week period was 2.59% and for the month was 2.98%.
What is Wall Street analysts’ recommendation on this stock?
The analyst mean recommendation for this week has been 1.8, same as was in the last week. The price target of $270.00 was the lowest while the highest price target was set as $1,111.00, according to 48 analysts surveyed by Thomson Reuters.
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