Background: Apple designs, manufactures, markets and sells personal computers and related personal computing and communicating devices to education, creative, consumer and business customers. Apple was founded in 1976 and trades an average of 13 million shares a day and has a market cap of $619 billion.
52-Week High: $674.88Analysts are in love with Apple, and so am I. I have written numerous articles for TheStreet about Apple. In my last article about companies making 52-week highs, I used Apple to illustrate why buying some of these stocks makes solid financial sense. In the last month, the stock has moved 15.3% higher. The mean fiscal year price-to-earnings ratio is 15, based on estimated earnings of $43.89 per share this year. Investors are receiving $2.65 in dividends for a yield of 0.4%, and the average analyst target price for Apple is $749.10. The last reported short interest is tiny at 1.2%. Apple is building a solid price base that appears to be nearing a technical point of breaking out higher. The fundamentals support a higher price with the iPhone coming out shortly and a relatively small earnings multiple.
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