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Apple, Inc. (AAPL) continued its upward momentum, outperforming the S&P 500 and rising by approximately 115.6% compared to the S&P’s gain of about 38.3% over the past two years. Institutions were actively buying the stock in the fourth quarter, and this global company climbed the WhaleWisdom Heatmap to a ranking of thirteen from nineteen.

Apple is a multinational technology company with a diversified business model of products and services. The company specializes in consumer electronics, software, hardware, and online services, focusing on mobile communication. Apple is well known for its role in the personal computer revolution, the iconic iPhone, and its wearables segment, including AirPods and the Apple Watch.

The innovative designer of computers, smartphones, and touchscreen tablets will soon hold a Peek Performance event, which will stream on Apple.com and YouTube. On March 8, 2022, this virtual event is rumored to include the announcement of a next-generation version of the iPhone SE and improved versions of Mac computers and the iPad Air.

Hedge Funds Sell Despite Growth

Apple received mixed responses from Hedge Funds and Institutions in the fourth quarter. Hedge Funds decreased their holdings slightly by about 0.6% to approximately 1.3 billion. Overall, 59 hedge funds created new positions, 231 added to an existing holding, 24 exited, and 276 reduced their stakes. However, the aggregate 13F shares held by Institutions increased to approximately 9.32 billion from 9.27 billion, a change of about 0.5%.

(WhaleWisdom)

Favorable Earnings Estimates

Analysts expect to see earnings rise in 2022 and 2023, bringing earnings per share up to $6.15 by September 2022 and $6.53 by September 2023. The outlook is also encouraging for revenue with an anticipated rise by 2022 to approximately $395.6 billion; this momentum may continue into 2023, with revenue estimated at $417.4 billion by 2023. Long-term 13F metrics between 2002 and 2022 suggest that Apple’s investment potential remains strong.

(WhaleWisdom)

Favorable Outlook

Analyst Samik Chatterjee of JPMorgan kept a $210 price target and Overweight rating on Apple following his firm’s buy-side survey results. The survey data points to share upside if Apple can sustain growth. Barclay’s analyst Ramsey El-Assal took an interest in Apple’s announcement of a Tap to Pay feature for the iPhone, citing its potential to benefit applications (apps) such as Square’s Point of Sale app. Apple’s solution will be available for payment platform operators and developers to integrate into their apps.

Bright Outlook Ahead

Apple’s growth trend and record highs in 2022 command attention. Future estimates encourage investors, offering strong motives to hold and consider acquiring shares. The tech company’s products and services continue to be in high demand among many consumers.

This entry was posted on Monday, March 7th, 2022 at 8:17 am and is filed under Stock. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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