Fintel reports that on July 15, 2024, Loop Capital upgraded their outlook for Apple (NasdaqGS:AAPL) from Hold to Buy.
Analyst Price Forecast Suggests 5.69% Downside
As of July 3, 2024, the average one-year price target for Apple is $217.42/share. The forecasts range from a low of $165.64 to a high of $288.75. The average price target represents a decrease of 5.69% from its latest reported closing price of $230.54 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 436,698MM, an increase of 14.43%. The projected annual non-GAAP EPS is 6.93.
What is the Fund Sentiment?
There are 6,920 funds or institutions reporting positions in Apple. This is an increase of 94 owner(s) or 1.38% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.07%, an increase of 16.19%. Total shares owned by institutions decreased in the last three months by 2.09% to 9,872,851K shares. 
The put/call ratio of AAPL is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 789,368K shares representing 5.15% ownership of the company. In its prior filing, the firm reported owning 905,560K shares , representing a decrease of 14.72%. The firm decreased its portfolio allocation in AAPL by 18.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 461,127K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 463,726K shares , representing a decrease of 0.56%. The firm decreased its portfolio allocation in AAPL by 19.25% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 365,796K shares representing 2.39% ownership of the company. In its prior filing, the firm reported owning 357,127K shares , representing an increase of 2.37%. The firm decreased its portfolio allocation in AAPL by 19.56% over the last quarter.
Geode Capital Management holds 307,721K shares representing 2.01% ownership of the company. In its prior filing, the firm reported owning 300,823K shares , representing an increase of 2.24%. The firm decreased its portfolio allocation in AAPL by 19.43% over the last quarter.
Price T Rowe Associates holds 206,972K shares representing 1.35% ownership of the company. In its prior filing, the firm reported owning 210,827K shares , representing a decrease of 1.86%. The firm decreased its portfolio allocation in AAPL by 20.24% over the last quarter.
Apple Background Information
(This description is provided by the company.)
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple's software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.
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