Global Business Machines Corp’s shares fell 5.7 percent to $163.36 in premarket trading, a day after the company’s revenue fell for the 13th consecutive quarter.
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Out of 37 analysts polled by TipRanks, 24 analysts are bullish, 11 are neutral, and two are bearish on Apple stock.
On Monday, the Nasdaq composite touched a new intra-day high for the third straight day while the S&P 500 was just shy of its all-time high.
The iPhone manufacturer reported earnings per share of $1.85, which surpassed Wall Street’s expectations of $1.81 EPS.
Apple Inc. (NASDAQ:AAPL) has a current consensus rating of 1.78. Munster has a 30.7% average return when recommending AAPL, and is ranked #1 out of 3711 analysts.
In a research report released after market close, Piper Jaffray analyst Gene Munster provided a few insights on Apple Inc. The disclosure for this sale can be found here. This could be critical to what Apple guides for revenue if it sticks to the same announce and ship schedule for the iPhone 6s and 6s Plus that it has for the last three versions of the iPhone.
Most analysts seem to be expecting that the high-end of Apple’s guidance for the September quarter will be in-line with what the Street is expecting. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Apple in a research note on Friday.
UBS analyst Steve Milunovich likewise reiterated a Buy rating on Apple on July 16 with a $150 price target, ahead of Apple’s Q3 earnings. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirty-seven have issued a buy rating to the company’s stock.
Mayer said that on the whole, she was pleased with the revenue increase in the quarter, pointing out the 60 percent jump in areas of mobile, video, native advertising and social. The company presently has a consensus rating of “Buy” and an average price target of $137.85. That’s helping to fuel an expected 32% jump in total sales, to $49.25 billion, and a 41% gain in earnings per share to $1.80, according to data from FactSet. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. As for Microsoft, the purchase of Nokia back in April 2014 for $9.5B did not pay off. Today the company acknowledged that the deal lost nearly all of its value.
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Stay tuned for our full earnings report on Yahoo later!
