Apple Inc. AAPL was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $273.36 –$327.20 in the past one-month time frame, witnessed a sharp increase yesterday.
The upmove came after Oppenheimer analysts provided bullish stance on the stock amid the coronavirus outbreak. The analysts believe that the crisis is temporary and the company’s prospects are likely to return to normal by second-half 2020.
The company has seen six negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Apple currently has a Zacks Rank #2 (Buy) while its Earnings ESP is negative.
Apple Inc. Price
Investors interested in the Computer - Mini computers industry may consider HP Inc. HPQ, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is AAPL going up? Or down? Predict to see what others think:Up or Down
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