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.