Apple Inc (NASDAQ:AAPL) : China and Apple Watch, growth engines according to UBS

Apple Inc. (NASDAQ:AAPL) is seeing an important increase in search volume in China, which is indicating continued strength there. The firm also forecasts iPhone demand at 51 million units, which it said is above the Street consensus estimate of 45 million. Apple Watch may also become ‘must have’ as interface to internet, according to UBS. UBS reiterated its Buy rating and $150 price target on Apple stock.

As per last SEC disclosures, Apple stock is still an heavyweight of Gurus portfolios like the one of Legendary investor Carl Icahn. Indeed Apple Inc. (NASDAQ:AAPL) represents the second largest position and 20% of his total portfolio.

AAPL reported last quarter earnings on April 27. The Computers Manufacturing company announced earnings per share of $2.33 against a consensus Street estimate of $2.19, beating the average estimate by $0.14. This corresponds to a decrease of $8.02 compared to the same quarter of the previous fiscal year.

A recent analyst activity consisted of Canaccord Genuity reiterating their Buy stance on April 28. Canaccord Genuity increased their price target on AAPL from $150 to $155. On the date of report, the stock closed at $130.02.

Another research firm was Jefferies who reiterated their Hold stance on April 27. Jefferies increased their price target on Apple Inc from $130 to $135. On the date of report, the stock closed at $132.1.

There are currently fifty-two analysts that cover AAPL stock. Of those fifty-two, thirty-seven have a Buy rating, thirteen have a Hold rating and two have a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $146.49.

From an income perspective, Apple Inc (AAPL) has a dividend yield of 1.6%. The dividend has remained flat over the last 5 years and the payout ratio stands at 23%.

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

Apple Inc (NASDAQ:AAPL) : China and Apple Watch, growth engines according to UBS was last modified: May 17th, 2015 by Seth Talluto