Apple Inc (NASDAQ:AAPL) – Why Apple’s Adoption Of Sapphire May Not Have Much Impact On Corning

Apple Inc (NASDAQ:AAPL) [at Forbes] – Is is implied that Gorilla Glass sales to Apple amount to around $187 million dollars, which was just 2.3% of Corning’s overall sales in 2013. Therefore, if Apple were to completely stop purchasing Gorilla Glass, Corning’s sales would decline by 2.3%.
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Apple Inc. (AAPL), currently valued at $473.75B, finished yesterday at $530.44.
 
Today, shares have traded between $528.34 and $531.67 per share and has traded between $385.10 and $575.14 over the past 12 months.
 
AAPL shares are currently priced at 12.41x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 29.53x earnings multiple for the same period.
 
And for those looking to make a return holding the stock, the company pays shareholders $12.20 per share annually in dividends, yielding 2.30%.
 
According to a consensus of 44 analysts, the earnings estimate of $10.13 per share would be $0.04 better than the year-ago quarter and a $0.63 sequential decrease. Investors should also note that the full-year EPS estimate of $42.77 is a $3.02 improvement 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 $43.54 Billion. If realized, that would be a 0.14% decrease over the year-ago quarter.
 
Recently, Barclays downgraded AAPL from Overweight to Equal Weight (Feb 20, 2014). Previously, Standpoint Research downgraded AAPL from Hold to Sell.
 
Given all the information above, we should disclose to readers that the average price target is $586.00, which is 10.47% 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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