More than 60% of Analysts Recommend a ‘Buy’ for Apple Stock



Apple’s stock returns

Apple (AAPL) stock has returned 23.0% in the last 12 months, 4.4% in the last month, and 1.7% in the last five days. It rose 16.0% in 2016 and 48.0% in 2017. Since the start of 2018, Apple stock has risen 13.0%.

Peers Google (GOOG)(GOOGL), Microsoft (MSFT), and HP Inc. (HPQ) have returned 17.0%, 42.0%, and 20.0%, respectively, in the last 12 months. The SPDR S&P 500 ETF (SPY) and the PowerShares QQQ ETF (QQQ) have returned -0.5% and 3.0%, respectively, this year.

Analysts’ recommendations and price targets

Of the 42 analysts tracking Apple stock, 27 recommended a “buy,” and 15 recommended a “hold.” There were no “sell” recommendations. Analysts’ 12-month average price target for Apple is $197.45, and the median estimate is $200.00. Apple is trading at a discount of ~4.0% to its median estimate.

Moving averages

On June 4, Apple stock closed at $191.83. Based on that price, the stock is trading as follows:

  • 9.7% above its 100-day moving average of $174.93
  • 8.1% above its 50-day moving average of $177.41
  • 2.1% above its 20-day moving average of $187.87

Technical indicators

Apple’s 14-day MACD (moving average convergence divergence) is ~3.7. The MACD marks the difference between a stock’s short-term and long-term moving averages. Apple’s positive MACD indicates an upward trading trend.

Apple has a 14-day RSI (relative strength index) score of 62, which shows that the stock is trading closer to overbought territory. An RSI score above 70 indicates that a stock has been overbought, while an RSI score below 30 suggests that it has been oversold.

More From Market Realist