October 29, 2024

New Sell Rating for Apple (AAPL), the Technology Giant

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Barclays analyst Tim Long maintained a Sell rating on Apple (AAPL – Research Report) today and set a price target of $186.00. The company’s shares closed yesterday at $233.40.

Long covers the Technology sector, focusing on stocks such as Apple, Hewlett Packard Enterprise, and Ciena. According to TipRanks, Long has an average return of 13.7% and a 62.36% success rate on recommended stocks.

In addition to Barclays, Apple also received a Sell from KeyBanc’s Brandon Nispel in a report issued on October 25. However, yesterday, Jefferies maintained a Hold rating on Apple (NASDAQ: AAPL).

AAPL market cap is currently $3518.4B and has a P/E ratio of 35.23.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Most recently, in August 2024, Chris Kondo, the CAO of AAPL sold 8,706.00 shares for a total of $1,958,850.00.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Apple (AAPL) Company Description:

Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

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