Market Update: Apple Inc (NASDAQ:AAPL) – Fitbit, Apple Lead In Wearables, But Other Brands Gaining Fast

[at Investor’s Business Daily] – Fitbit (FIT) continues to lead in wearable fitness devices and Apple (AAPL) remains atop the smartwatch market, but a host of little-known brands are rapidly taking market share, research firm IDC reported … Read more on this. Apple Inc. (AAPL) , with a current value of $514.22B, opened at $92.45. During the trading session, AAPL traded between $91.65 to $94.39 and has traded between $89.47 and $132.97 over the past 12 months. Apple (AAPL) shares are currently priced at 10.93x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.52x earnings multiple for the same period. The company pays shareholders $2.28 per share annually in dividends, yielding 2.52%. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $1.40 per share, which would be $0.45 worse than the year-ago quarter and a $0.37 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $8.28, which would be a $0.94 worse when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $42.18 Billion. If reported, that would be a 14.96% 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. The average price target for AAPL shares is $126.25, which is 36.56% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Market Update (NASDAQ:AAPL): Fitbit, Inc. is Officially Afraid of Apple, Inc. Company Update: Apple Inc (NASDAQ:AAPL) – Fitbit to launch full Apple Watch rival with longer battery life Company Update (NASDAQ:AAPL): Apple Watch closing in on Fitbit for wearables lead