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

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In a report released today, Mike Ng from Goldman Sachs maintained a Buy rating on Apple (AAPLResearch Report), with a price target of $238.00. The company’s shares closed yesterday at $193.12.

Ng covers the Technology sector, focusing on stocks such as Apple, Arista Networks, and Cisco Systems. According to TipRanks, Ng has an average return of 4.9% and a 49.70% success rate on recommended stocks.

In addition to Goldman Sachs, Apple also received a Buy from TD Cowen’s Krish Sankar in a report issued today. However, yesterday, UBS maintained a Hold rating on Apple (NASDAQ: AAPL).

AAPL market cap is currently $3019.1B and has a P/E ratio of 30.62.

Based on the recent corporate insider activity of 47 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.