Apple (NASDAQ:AAPL) Trading Down 6.1% – Here’s Why

Apple Inc. (NASDAQ:AAPL) shares were down 6.1% during mid-day trading on Thursday . The stock traded as low as $273.75 and last traded at $275.15. 106,615,191 shares traded hands during mid-day trading, an increase of 120% from the average daily volume of 48,542,605 shares. The stock had previously closed at $293.08.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly planning an AI-focused custom chip for 2027, which could strengthen its in-house silicon strategy and support future product performance. Apple (AAPL) to Release AI-Focused Microchip in 2027
• Positive Sentiment: Market commentary highlighted Apple’s aggressive capital returns, noting that buybacks remain a major pillar of shareholder value creation. 850 Billion Reasons (and Counting) Why Investors Love Apple Stock

Analyst Ratings Changes

Several analysts have recently weighed in on AAPL shares. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Bank of America reissued a “buy” rating and set a $380.00 price target on shares of Apple in a report on Thursday, June 18th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Monday, June 1st. Finally, Wedbush reissued an “outperform” rating and set a $400.00 target price on shares of Apple in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Apple Trading Down 6.1%

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 business’s fifty day moving average is $291.83 and its 200 day moving average is $273.15. The stock has a market cap of $4.04 trillion, a PE ratio of 33.27, a P/E/G ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $109.46 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is 13.06%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of Apple 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 transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 97,875 shares of company stock valued at $24,998,541. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several hedge funds have recently modified their holdings of the company. Hamilton Wealth LLC grew its stake in Apple by 1.2% in the 1st quarter. Hamilton Wealth LLC now owns 121,478 shares of the iPhone maker’s stock worth $30,830,000 after acquiring an additional 1,391 shares during the period. Basecamp Wealth Advisors LLC raised its holdings in Apple by 1.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 58,912 shares of the iPhone maker’s stock valued at $14,951,000 after acquiring an additional 664 shares during the last quarter. Optimus Capital Advisors LLC lifted its stake in shares of Apple by 12.1% during the 1st quarter. Optimus Capital Advisors LLC now owns 2,118 shares of the iPhone maker’s stock worth $538,000 after purchasing an additional 229 shares during the period. Redwood Investment Management LLC lifted its stake in shares of Apple by 1.2% during the 1st quarter. Redwood Investment Management LLC now owns 53,993 shares of the iPhone maker’s stock worth $13,703,000 after purchasing an additional 658 shares during the period. Finally, MTM Financial Group LLC boosted its holdings in shares of Apple by 7.0% during the first quarter. MTM Financial Group LLC now owns 3,177 shares of the iPhone maker’s stock worth $806,000 after purchasing an additional 207 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Company Profile

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.