Apple (NASDAQ:AAPL) Shares Down 1.4% – Here’s What Happened

Apple Inc. (NASDAQ:AAPL) fell 1.4% on Thursday . The stock traded as low as $329.59 and last traded at $333.43. 61,003,160 shares traded hands during trading, an increase of 21% from the average session volume of 50,492,391 shares. The stock had previously closed at $338.19.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst Dan Ives said Apple could become the primary gateway to consumer AI, estimating that one in five people may access AI through an Apple device. This reinforces the potential value of Apple’s installed base and ecosystem. Apple Is the Easy Pass to Consumer AI, Dan Ives Says
• Positive Sentiment: Analysts expect Apple to post its strongest June-quarter sales growth in five years, helped by steady iPhone pricing and potentially strong iPhone 17 shipments. Mac growth could also offset tougher iPad comparisons. Apple set for strongest June-quarter sales growth in 5 years
• Positive Sentiment: Apple’s new Apple Upgrade leasing program, offered with Klarna, could lower the upfront cost of iPhones and other devices, potentially encouraging more frequent upgrades and supporting hardware demand. AAPL Stock Alert: Apple Partners With Klarna to Lease iPhones
• Neutral Sentiment: Tim Cook is expected to host his final earnings call as CEO after 15 years, with incoming CEO John Ternus’s priorities and the leadership transition likely to receive significant investor attention. Tim Cook’s last earnings call comes at momentous time for Apple
• Neutral Sentiment: Options markets imply a potentially large post-earnings move, while prediction markets show a high probability of an EPS beat. However, investors are focused more on forward guidance and commentary than on another quarterly beat. Apple and Amazon report after the bell
• Negative Sentiment: Apple’s valuation—around 41 times earnings following its rally—has increased concerns that the shares are priced for near-perfect results. Analysts also note that buybacks may have less impact at current prices. Apple has never been more valuable—or a riskier bet
• Negative Sentiment: Bipartisan U.S. senators urged Apple not to purchase memory chips from blacklisted Chinese suppliers, creating potential supply-chain, political and compliance complications. Senators Warn Apple Not to Buy Memory Chips From Chinese Firms

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Raymond James Financial set a $380.00 price objective on Apple in a research report on Monday, July 20th. DA Davidson reiterated a “neutral” rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Friday, April 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $327.40.

Apple Stock Performance

The firm has a 50 day moving average of $308.94 and a two-hundred day moving average of $280.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market cap of $4.90 trillion, a PE ratio of 40.32, a PEG ratio of 2.94 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. Research analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Institutional investors and hedge funds have recently bought and sold shares of the stock. Retirement Guys Formula LLC boosted its position in shares of Apple by 3.4% in the 2nd quarter. Retirement Guys Formula LLC now owns 18,818 shares of the iPhone maker’s stock valued at $5,445,000 after purchasing an additional 612 shares during the period. Left Brain Wealth Management LLC increased its position in Apple by 59.4% during the second quarter. Left Brain Wealth Management LLC now owns 3,911 shares of the iPhone maker’s stock worth $1,132,000 after buying an additional 1,457 shares during the period. CWS Financial Advisors LLC increased its position in Apple by 5.5% during the second quarter. CWS Financial Advisors LLC now owns 63,858 shares of the iPhone maker’s stock worth $18,478,000 after buying an additional 3,308 shares during the period. Great Lakes Retirement Inc. lifted its stake in Apple by 1.9% in the second quarter. Great Lakes Retirement Inc. now owns 102,454 shares of the iPhone maker’s stock valued at $29,646,000 after buying an additional 1,890 shares during the last quarter. Finally, Ascentis Wealth Management LLC lifted its stake in Apple by 6.7% in the second quarter. Ascentis Wealth Management LLC now owns 33,811 shares of the iPhone maker’s stock valued at $9,787,000 after buying an additional 2,110 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.