Market Update: Apple Inc (NASDAQ:AAPL) – Will Apple iPhone 7 Sell, With Bigger Upgrade Coming Next Year?

[at Investor’s Business Daily] – Apple (AAPL) shares have gotten a lift this week on reports of higher-than-expected production orders for the upcoming iPhone 7. But Wall Street is starting to wrestle with worries that iPhone users might … Read more on this. Apple Inc. (AAPL) , valued at $536.24B, began trading this morning at $97.22. Looking at today’s trading action, the company’s one day range from $96.84 to $98.09 and has traded between $89.47 and $132.97 over the past 12 months. Priced at 11.65x this year’s forecasted earnings, AAPL shares are relatively expensive compared to the industry’s 11.19x forward p/e ratio. The company pays shareholders $2.28 per share in dividend income per year, for a current yield of 2.36%. 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 setback 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. When considering if the stock is under or overvalued, the average price target is $125.93, which is 29.53% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – Skyworks Growth Threatened By ‘Unfavorable’ Apple iPhone Comparison Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL) Market Update: Apple Inc (NASDAQ:AAPL) – More analysts join the herd cutting Apple iPhone estimates