Apple Inc. (NASDAQ:AAPL) has reportedly extended its buyback plan, and the upcoming releases of AAPL’s latest versions of the iPad and iPhone has prompted a research firm RBC Capital to hike its price target from $625 to $645. An analyst at RBC Capital, Amit Daryanani upped this price objective on AAPL shares to $645 from $625, citing that an increase of $30 billion in repurchases over the time span next 7-quarters, he added that, they now are modeling $44 billion of buybacks through December 2015.
RBC Capital’s analyst Amit Daryanani also cited that the upcoming Apple Inc. (NASDAQ:AAPL) events, which includes the expected launch the iPhone 6, and an iPad refresh and new products, including the iWatch. The analysts at RBC think that investors should remain long Apple Inc. (AAPL) ahead of multiple catalysts including, Amit Daryanani wrote.
Shares of AAPL were up 0.08%at $594.90 in afterhours trades. Apple Inc. (NASDAQ:AAPL) shares after opening at $601.80 moved to $604.41 on last trade day and at the end of the day closed at $ 594.41 . Company price to sales ratio in past twelve months was calculated as 2.91 and price to cash ratio as 12.38. Apple Inc. (NASDAQ:AAPL) showed a positive weekly performance of 0.35%.
Reportedly, Hewlett-Packard Company (NYSE:HPQ) will invest over $1 billion over the next two years, in open-source cloud computing products and services.It’s been announced by the tech giant on Wednesday, that its OpenStack-based public cloud service, set under a portfolio dubbed HP Helion, will become available in 20 data centers over the next two years.
Hewlett-Packard Company (NYSE:HPQ) shares fell -1.14% in last trading session and ended the day on $32.13. HPQ return on equity ratio is recorded as 20.60% and its return on assets is 5.00%. Hewlett-Packard Company (NYSE:HPQ) yearly performance is 59.22%.
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