Is Apple Inc. (NASDAQ: AAPL) Still A Buy After A 2.94% Weekly Jump?

During the last session, Apple Inc. (NASDAQ:AAPL)’s traded shares were 70.59 million, with the beta value of the company hitting 1.30. At the end of the trading day, the stock’s price was $151.03, reflecting an intraday gain of 3.51% or $5.12. The 52-week high for the AAPL share is $179.61, that puts it down -18.92 from that peak though still a striking 17.78% gain since the share price plummeted to a 52-week low of $124.17. The company’s market capitalization is $2433.40B, and the average intraday trading volume over the past 10 days was 54.43 million shares, and the average trade volume was 73.30 million shares over the past three months.

Apple Inc. (AAPL) registered a 3.51% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.51% in intraday trading to $151.03 this Friday, 03/03/23, hitting a weekly high. The stock’s 5-day price performance is 2.94%, and it has moved by 3.85% in 30 days. Based on these gigs, the overall price performance for the year is -9.32%. The short interest in Apple Inc. (NASDAQ:AAPL) is 115.48 million shares and it means that shorts have 1.6 day(s) to cover.

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Apple Inc. (AAPL) estimates and forecasts

Statistics show that Apple Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Apple Inc. (AAPL) shares have gone down -3.94% during the last six months, with a year-to-date growth rate more than the industry average at -0.98% against -1.30. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -5.90% this quarter and then jump 3.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -1.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $92.96 billion as predicted by 23 analyst(s). Meanwhile, a consensus of 22 analyst(s) estimates revenue growth to $85.4 billion by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $97.28 billion and $82.96 billion respectively. In this case, analysts expect current quarter sales to shrink by -4.40% and then jump by 2.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.60%. While earnings are projected to return 8.90% in 2023, the next five years will return 8.13% per annum.

AAPL Dividends

Apple Inc. is due to release its next quarterly earnings between April 26 and May 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Apple Inc. is 0.92, with the dividend yield indicating at 0.61 percent, continuing the trend of increasing dividends in recent years.

Apple Inc. (NASDAQ:AAPL)’s Major holders

Apple Inc. insiders own 0.07% of total outstanding shares while institutional holders control 61.29%, with the float percentage being 61.33%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 5,679 institutions own stock in it. As of Dec 30, 2022, the company held over 1.28 billion shares (or 8.08% of all shares), a total value of $166.08 billion in shares.

The next largest institutional holding, with 1.03 billion shares, is of Blackrock Inc.’s that is approximately 6.50% of outstanding shares. At the market price on Dec 30, 2022, these shares were valued at $133.73 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Apple Inc. (AAPL) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Sep 29, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 455.11 million shares. This amounts to just over 2.88 percent of the company’s overall shares, with a $62.9 billion market value. The same data shows that the other fund manager holds slightly less at 342.45 million, or about 2.16% of the stock, which is worth about $47.33 billion.