While investors, traders and consumers are already excited about Apple’s (NASDAQ:AAPL) upcoming iPhone 7, there may be reason to get even more excited if you believe rumors coming from fudzilla.com. According to the publication Apple may be looking to release their new lineup of iPhone 7 devices prior to July, changing things up from the typical September release of new iPhone models. The report indicates that Apple Inc. (NASDAQ:AAPL) may want to beat the competition to the punch in 2016 and by releasing a device, say in June, they would have several months of sales possibly prior to other companies releasing their latest model smartphones.
Additionally, the report indicates that such a move would satisfy shareholders, who have become a bit nervous as analysts predict slower sales for the iPhone 6s and 6s Plus over the coming months. This would boost iPhone sales in 2016 instead of waiting until 2017 to book the majority of the sales for the new devices. Of course these are only rumors and Apple Inc. (NASDAQ:AAPL) is known for their tight lips when it comes to release dates, so it is very possible that such a schedule change may not be in the works after all.
The stock is down 1.26% or $1.37 following the news, hitting $107.37 per share. Approximately 5.89M shares traded hands. AAPL shares have declined 17.65% since May 27, 2015 and are currently downtrending. It has underperformed the S&P500 by 15.52%.
From a total of 30 analysts covering Apple Inc. (NASDAQ:AAPL) stock, 27 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 90% of the ratings are positive. The highest target price is $200 while the lowest target price is $125. The mean of all analyst targets is $147.93 which is 37.78% above today’s ($107.37) stock price. Apple Inc. was the topic of 96 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on December 23 with a “Buy” rating. Barclays Capital maintained shares with a”Overweight” rating and a $150 target share price in their report from a December 14. Cowen & Co maintained AAPL stock in a recent report from December 22 with a “Market Perform” rating. BMO Capital Markets initiated the rating on December 11. BMO Capital Markets has a “Outperform” rating and a $145 price target on shares. Finally, UBS maintained the stock with a “Buy” rating in a report they issued on a December 16.
The institutional sentiment increased to 1.18 in Q2 2015. It’s up 0.22, from 0.96 in 2015Q2. The ratio is positive, as 103 funds sold all their Apple Inc. shares they owned while 854 reduced their positions. 102 funds bought stakes while 1032 increased their total positions. Institutions now own 3.20 billion shares which is 1.58% less than the previous share count of 3.25 billion in 2015Q2.
Compton Capital Management Inc Ri holds 45.15% of its total portfolio in Apple Inc., equating to 113,694 shares. Raiff Partners Inc owns 100,000 shares representing 32.27% of their total US portfolio. Moreover, Rfg Advisory Group Llc has 25.06% of their total portfolio invested in the company, equating to 70,558 shares. The New York-based Independent Investors Inc has a total of 23.66% of their portfolio invested in the stock. Dock Street Asset Management Inc, a Connecticut-based fund reported 269,584 shares owned.
Since March 6, 2015, the stock had 0 insider purchases, and 7 selling transactions for a total of $17.48 million in net activity. Maestri Luca sold 2,908 shares worth $325,347. Williams Jeffrey E sold 46,873 shares worth $5.18M. Riccio Daniel J. sold 24,085 shares worth $3.01M. Ahrendts Angela J sold 44,789 shares worth $5.90M. The insider Levinson Arthur D sold 70,000 shares worth $9.20M.
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market cap of $604.62 billion. The Company’s services and products include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. It has 11.67 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.