Apple (AAPL) Sinks Despite Analyst Support

AAPL investors were likely spooked this afternoon by Barrons's report: "Apple Stock Is a Top Pick for 2023, Analyst Says. Look Past Recent Struggles. ..." For more coverage, read the full article here. On the back of this news, Apple sank -1.3% to a price of $134.71.

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Apple has a trailing 12 month P/E ratio of 30.3 and a P/B ratio of 32.5.

At today's price of $134.71 per share, Apple is -26.62% away from its target price of $183.59, and on average, analysts give the stock a rating of buy. 0.7% of the company's shares are linked to short positions, and 59.6% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.