RSS
UBS Cuts Price Target on Apple (AAPL)
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 Dividend Stock Newsletter
Get the Dividend.com email newsletter to receive:
- A free copy of our acclaimed report, 5 Rules of Winning Dividend Stock Investing
- Free daily investing tips and picks from Dividend.com CEO Paul Rubillo
- Tons of great market analysis and recommendations
MOST POPULAR ARTICLES ON DIVIDEND.COM
ABOUT THIS ARTICLE