While a large numer of analysts have been downgrading Apple’s (NASDAQ:AAPL) stock over the last two weeks on alleged leaks that point to reduced orders with suppliers, a new report coming to us out of China may indicate the exact opposite. In fact, a recent report issued by Stifel analyst Aaron Rakers, who used data released by China’s Ministry of Industry and Information Technology, indicates that sales of ‘non-Android’ smartphones in China has increased by 33% in the fourth quarter of 2015.
“Android smartphones are estimated to have accounted for approximately 81% of total C4Q15 China domestic smartphone shipments, down from 88% in C3Q15 and 82.5% in C4Q14,” wrote Raker. “This leaves total non-Android (Apple iPhone = majority?) shipments at a record ~24.3 million in C4Q15, an increase from 18. 3 million in C4Q14 and up from 14.5 in the prior quarter—implied non-Android smartphone phone shipments up 33% y/y and 67% sequentially in C4Q15.”
This would also come in line with comments made by Apple Inc. (NASDAQ:AAPL) CEO Tim Cook in October, stating that his company was on track to realize more sales in the fourth quarter this year, than last. Last year the company sold 74.5 million iPhone in the fourth quarter.
The stock is currently trading higher by 1.35% or $1.31 following the positive news, hitting $98.27 per share at the time of us publishing this article. About 10.97M shares traded hands. AAPL has declined 24.63% since June 5, 2015 and is downtrending. It has underperformed the S&P500 by 19.94%.
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 50.53% above today’s ($98.27) 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 improved, 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 insider sales 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 $3.01 million. Ahrendts Angela J sold 44,789 shares worth $5.90 million. 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 $544.86 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 10.69 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.