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Market Update (NASDAQ:AAPL): GLOBAL MARKETS-Apple slide drags on Wall St; yen weakens

[Reuters – UK Focus] – The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares dragged the Nasdaq lower in a volatile trading day. … Read more on this. Apple Inc. (AAPL) , with a current market cap of $494.83B, opened at $92.77. Today, shares have traded between $89.47 and $92.78 per share with a one year range of $89.47 to $132.97. AAPL shares are currently priced at 11.17x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.45x forward p/e ratio. The company pays shareholders $2.28 per share annually in dividends, yielding 2.46%. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $1.40 per share, which would be $0.45 worse than the year-ago quarter and a $0.37 sequential decrease. Investors should also note that the full-year EPS estimate of $8.28 is a $0.94 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $42.18 Billion. If realized, that would be a 14.96% decrease over the year-ago quarter. More recently, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. With the above information in mind, readers should note that the average price target is $126.25, which is 36.09% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – Apple CEO Tim Cook Ends Stock Slide With Reassuring TV Appearance Market Update (NASDAQ:AAPL): Shares of Cirrus Logic slide after major customer Apple misses estimates Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL)
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