Apple Inc. (NASDAQ:AAPL) | T. Rowe Price’s Brian Rogers Changes His Mind On Apple At Lower Valuation

Apple Inc. (NASDAQ:AAPL) [at Forbes] – Back in March 2012, when many firms were cashing in on Apple (AAPL)’s astronomical growth, Bloomberg noted that the stock was “conspicuously absent” from Brian Rogers’ portfolio. Rogers, the chairman and chief investment officer overseeing $500 billion at T. Rowe Price, responded at the time that Apple was not right for his firm’s
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Apple Inc. (AAPL), valued at $506.72B, began trading this morning at $565.60.
During the trading session, AAPL traded between $560.82 to $566.00 and has traded between $385.10 and $569.25 over the past year.
AAPL shares are currently priced at 13.03x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 47.89x earnings multiple for the same period.
The company pays shareholders $12.20 per share in dividend income per year, for a current yield of 2.30%.
According to a consensus of 47 analysts, the earnings estimate of $13.99 per share would be $0.18 better than the year-ago quarter and a $0.57 sequential increase. What we find to be interesting is that the full-year EPS estimate of $43.47 is a $3.72 better when compared to the previous year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $56.00 Billion. If realized, that would be a 2.73% increase over the year-ago quarter.
More recently, Robert W. Baird upgraded AAPL from Neutral to Outperform (Oct 29, 2013). Previously, Standpoint Research downgraded AAPL from Buy to Hold.
Given all the information above, we should disclose to readers that the average price target is $579.29, which is 2.42% above than it opened this morning.
Apple Inc. (NASDAQ:AAPL), together with subsidiaries, designs, manufactures and markets mobile communication and media devices, personal computing products and portable digital music players worldwide. Its products and services include iPhone, iPod, iPad and much more.
Tag Helper ~ Stock Code: AAPL | Common Company name: Apple | Full Company name: Apple Inc. (NASDAQ:AAPL) .

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