Apple Inc. (NASDAQ:AAPL) Shares Down Slightly Amid New Rumors Emerging of OLED Coming to iPhone 7


For years, we’ve heard of rumors that Apple Inc. (NASDAQ:AAPL) would be switching over to OLED displays on their iPhones, but perhaps the rumor finally has some grounds to stand on, and perhaps we could see the OLED displays in the next iPhone. While shares of Apple Inc. (NASDAQ:AAPL) are down 0.22% in pre-market trading this morning, investors and owners of iPhones alike will welcome the news if it comes to fruition.

According to Reuters, Samsung Electronics Co Ltd and LG Display Co Ltd will supply OLED – organic light emitting diode – screens for Apple’s (NASDAQ:AAPL) iPhones. Reuters is gathering information on this from the Electronic Times, who reported the rumor on Wednesday, citing an unamed source.

Will this translate into an iPhone 7 that features and OLED screen? While it certainly is possible, it probably is not likely. According to the Nikkei newspaper in Japan, Apple Inc. (NASDAQ:AAPL) wouldn’t use OLED screens until 2018.

There is still some debate over whether the IPS LCD screens, which Apple currently uses, are any less advanced than OLED technology, although most experts you talk to will say that OLED would win hands-down.

The stock increased 1.80% or $1.92 during the last trading session, hitting $108.74. About 11,207 shares traded hands. AAPL has declined 17.65% since May 27, 2015 and is downtrending. It has underperformed the S&P500 by 15.38%.

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 36.04% above today’s ($108.74) 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 increased, 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 buys, 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 $5.18 million. Riccio Daniel J. sold 24,085 shares worth $3.01 million. Ahrendts Angela J sold 44,789 shares worth $5.90M. The insider Levinson Arthur D sold 70,000 shares worth $9.20 million.

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 $602.30 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 11.82 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.