Wedbush Believes Apple (NASDAQ: AAPL) Won’t Stop Here

By Carrie Williams

Wedbush analyst Daniel Ives maintained a Buy rating on Apple (AAPLResearch Report) yesterday and set a price target of $450.00. The company’s shares closed last Monday at $379.24, close to its 52-week high of $399.82.

According to TipRanks.com, Ives is a 5-star analyst with an average return of 13.1% and a 62.2% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple with a $375.29 average price target, a 0.1% upside from current levels. In a report issued on July 13, Morgan Stanley also maintained a Buy rating on the stock with a $419.00 price target.

See today’s analyst top recommended stocks >>

Apple’s market cap is currently $1605.7B and has a P/E ratio of 29.10. The company has a Price to Book ratio of 20.47.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, 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.