Apple (NASDAQ:AAPL) Shares Up 4.8% - What's Next?

Key Points

• Apple shares jumped 4.8% in Thursday trading, reaching an intraday high of $309.42 as volume surged above average. The move came as investors rotated into large-cap tech names despite weakness in the broader sector.
• News flow around Apple is turning more bullish, with reports that the company plans at least five new iPhone models through early 2027 and is boosting foldable iPhone production plans to 10 million units. Analysts also pointed to AI potential and growth in App Store/services as longer-term catalysts.
• Wall Street remains constructive overall, with Apple carrying a consensus Moderate Buy rating and an average price target of $314.85. Recent earnings also beat expectations, and the company recently raised its quarterly dividend to $0.27 per share.

Shares of Apple Inc. (NASDAQ:AAPL - Get Free Report) rose 4.8% during mid-day trading on Thursday . The company traded as high as $309.42 and last traded at $308.63. Approximately 74,852,903 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 50,746,855 shares. The stock had previously closed at $294.38.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports say Apple is planning at least five new iPhone models through early 2027 and has increased foldable iPhone production plans to 10 million units, reinforcing hopes for a strong product cycle. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Several analysts and commentators turned more constructive on Apple, citing AI potential, App Store/services growth, and long-term upside from new products like a foldable iPhone. What's Going on With Apple Stock Thursday?
• Positive Sentiment: Apple’s share strength is also being helped by a relative safety trade, with the stock outperforming a weak tech sector as investors rotate toward large-cap leaders. What's Going on With Apple Stock Thursday?

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Rosenblatt Securities reissued a "neutral" rating and set a $276.00 price objective on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Morgan Stanley reissued an "overweight" rating on shares of Apple in a report on Friday, June 26th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $314.85.

Apple Trading Up 4.8%

The company has a 50 day moving average price of $293.69 and a 200 day moving average price of $273.39. The firm has a market cap of $4.53 trillion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. On average, research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is currently 13.06%.

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Apple during the 4th quarter worth about $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple during the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. increased its stake in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC increased its stake in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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