Apple (NASDAQ:AAPL) Shares Up 1.7% – Here’s What Happened

Apple Inc. (NASDAQ:AAPL) rose 1.7% on Wednesday . The stock traded as high as $296.59 and last traded at $294.38. Approximately 49,883,612 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 50,549,492 shares. The stock had previously closed at $289.36.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports say Apple is planning at least five new iPhone models through 2027 and has raised foldable iPhone production plans, fueling optimism about a stronger product cycle and future demand. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple’s shares have also benefited from investor enthusiasm that a foldable iPhone and an expanded lineup could boost profits and help offset pressure from higher component costs. Why Apple Stock Rallied Today
• Positive Sentiment: Analysts continue to point to Apple’s AI roadmap and App Store/services growth as reasons the stock can keep outperforming the broader tech sector. What’s Going on With Apple Stock Thursday?
• Neutral Sentiment: Commentary from Jim Cramer and other market watchers suggests investors are still waiting for the next earnings report to confirm whether Apple can sustain growth while managing rising input costs. Jim Cramer on Apple: “We Need to See the Quarter and Hear What They Say”
• Neutral Sentiment: Apple remains a favored long-term holding in several strategy pieces, but the stock’s rich valuation means enthusiasm is increasingly tied to execution on AI, hardware launches, and margin protection. One Tech Stock to Buy and Hold For The Next Decade
• Negative Sentiment: There are growing concerns that soaring memory and component costs could pressure Apple’s margins, especially after recent price increases on Macs and iPads. Is Apple stock in trouble? Rising costs threaten margins, demand
• Negative Sentiment: Apple is also facing scrutiny over plans to source memory chips from blacklisted Chinese suppliers, which adds geopolitical and supply-chain risk even if it helps ease shortages. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch

Analyst Ratings Changes

Several equities analysts have commented on AAPL shares. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. Bank of America reissued a “buy” rating and set a $380.00 target price on shares of Apple in a research note on Thursday, June 18th. Morgan Stanley restated an “overweight” rating on shares of Apple in a report on Friday, June 26th. Barclays reaffirmed an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

The stock has a market cap of $4.53 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $294.54 and a 200 day moving average price of $273.60.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is 13.06%.

Insider Buying and Selling

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,924 shares of company stock valued at $825,546 in the last three months. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Apple during the 4th quarter worth approximately $52,266,468,000. Nuveen LLC purchased a new position in Apple in the first quarter worth $17,472,482,000. Cardano Risk Management B.V. grew its holdings in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.