Company Update (NASDAQ:AAPL): Apple Supplier Taiwan Semiconductor: Demand For $500 Phones Dying

[at Investor’s Business Daily] – Apple (AAPL) supplier Taiwan Semiconductor Manufacturing (TSM) issued flat Q2 guidance early Thursday, noting demand for $500 smartphones is dwindling as China and emerging markets embrace cheaper devices. … Read more on this. Apple Inc. (AAPL) , with a current value of $621.55B, opened at $111.64. Today’s price range has been between $111.33 and $112.39 per share with its 52-week range being $92.00 to $134.54. Priced at 12.38x this year’s forecasted earnings, AAPL shares are relatively expensive compared to the industry’s 9.45x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.08 per share annually in dividends, yielding 1.91%. According to a consensus of 37 analysts, the earnings estimate of $2.00 per share would be $0.33 worse than the year-ago quarter and a $0.27 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $9.05 is a $0.17 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $52.00 Billion. If reported, that would be a 10.36% decrease over the year-ago quarter. In terms of ratings, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. Given all the information above, we should disclose to readers that the average price target is $133.92, which is 19.96% above than it opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update (NASDAQ:AAPL): Will Apple Supplier Skyworks Kick Off 2016 Chip M&A With Maxim Buy? Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL) Market Update (NASDAQ:AAPL): Apple Supplier Macom Tech Breaks Out Amid Sell-Off