UBS Cuts Price Target on Apple (AAPL)

UBS Cuts Price Target on Apple (AAPL)

RSS

UBS reported on Tuesday that they have lowered their price target for tech giant, Apple Inc(AAPL).

The firm has reduced AAPL’s price target to $650, suggesting an 30% upside to the stock’s current price of $500. UBS currently has a “Buy” rating on the company.

Analysts have cut the company’s estimates based the the iPhone’s Application Service Provider(ASP).

Apple shares were up $3.45, or 0.69% during premarket trading Tuesday. The stock has increased 19% in the past year.

The Bottom Line
Shares of Apple (AAPL) have a 2.12% dividend yield, based on Friday’s closing stock price of $500.00. The stock has technical support in the $460-$485 price area. If the shares can firm up, we see overhead resistance around the $527-$550 price level.

Apple Inc(AAPL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today