Stock Update (NASDAQ:AAPL): Apple rolls out its next big software improvements

[AP] – Apple kicked off its annual software developer conference with new software features for its smartwatch and its streaming TV device, following a moment of reflection for the Sunday mass shooting in Orlando, … Read more on this. Apple Inc. (AAPL) , with a current market cap of $536.08B, began trading this morning at $98.60. During today’s session, AAPL traded between $97.10 to $99.12 with its 52-week range being $89.47 to $132.97. AAPL shares are currently priced at 11.94x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.81x earnings multiple. And for passive income investors, the company pays shareholders $2.28 per share annually in dividends, yielding 2.31%. Consensus earnings for the current quarter by the 37 sell-side analysts covering the stock is an estimate of $1.39 per share, which would be $0.46 worse than the year-ago quarter and a $0.38 sequential decrease. The full-year EPS estimate is $8.28 which would be a $0.94 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $42.43 Billion. If reported, that would be a 14.46% decrease over the year-ago quarter. More recently, Needham Initiated AAPL at Strong Buy (Apr 6, 2016). Previously, Cowen upgraded AAPL from Market Perform to Outperform. Investors should keep in mind is that the average price target is $124.93, which is 26.70% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update: Apple Inc (NASDAQ:AAPL) – Apple Takes the Encryption Fight to the Next Level (AAPL, FB) Stock Update: Apple Inc (NASDAQ:AAPL) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL) Stock Update: Apple Inc (NASDAQ:AAPL) – Now Samsung is following Apple by allowing mobile ad blockers for the first time