Apple (AAPL) Receives a Buy from Bank of America Securities
Bank of America Securities analyst Wamsi Mohan maintained a Buy rating on Apple (AAPL – Research Report) today. The company’s shares closed yesterday at $224.23.
According to TipRanks, Mohan is a 5-star analyst with an average return of 11.6% and a 59.08% success rate. Mohan covers the Technology sector, focusing on stocks such as Apple, Hewlett Packard Enterprise, and Amphenol.
In addition to Bank of America Securities, Apple also received a Buy from Phillip Securities’s Helena Wang in a report issued on November 8. However, yesterday, UBS reiterated a Hold rating on Apple (NASDAQ: AAPL).
Based on Apple’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $94.93 billion and a net profit of $14.74 billion. In comparison, last year the company earned a revenue of $89.5 billion and had a net profit of $22.96 billion
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Most recently, in August 2024, Chris Kondo, the CAO of AAPL sold 8,706.00 shares for a total of $1,958,850.00.
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Apple (AAPL) Company Description:
Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.