Apple (AAPL) Gets a Buy Rating from Canaccord Genuity

Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Apple (AAPLResearch Report) yesterday and set a price target of $145.00. The company’s shares closed last Tuesday at $115.54.

According to TipRanks.com, Walkley is a 5-star analyst with an average return of 18.2% and a 64.0% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and Synchronoss Technologies.

Currently, the analyst consensus on Apple is a Moderate Buy with an average price target of $120.15, which is a 1.5% upside from current levels. In a report issued on August 31, Wedbush also maintained a Buy rating on the stock with a $150.00 price target.

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Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $59.69 billion and net profit of $11.25 billion. In comparison, last year the company earned revenue of $53.81 billion and had a net profit of $10.04 billion.

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Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, 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.