Apple Inc (NASDAQ:AAPL) | Apple: BlueFin Encouraged by iPhone, iPad Builds, Evidence of ‘iWatch’

Apple Inc (NASDAQ:AAPL) [at Barrons.com] – Boutique research outfit BlueFin Research Partners John Donovan and Steve Mullane this morning write that Apple’s “builds” of the iPhone and the iPad, meaning production rates for the devices, appear “strong,” supporting their sales numbers for the year, and that they are seeing “for the first time” some supply chain activity that implies production of a rumored wearable device this year from Apple. The authors do not disclose with what sources they have gathered the information, referring merely to “checks.” The authors reiterate forecasts for 178 million units of the iPhone to be sold this calendar year, and 76 million units of the iPad, and are encouraged by what they think they’ve defected about production of both iPhone and iPad: We are emboldened in our early year reads of iPhone shipments surpassing consensus and our latest checks suggest the updated builds now sit squarely in the crosshairs of our initial CY 2014 forecast of 178M units. With the release of the iPhone 6 less than 3 months away, the record build numbers are not surprising.
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Apple Inc. (AAPL), valued at $564.78B, started trading this morning at $92.69.
 
Today, shares have traded between $91.75 and $93.80 per share with its 52-week range being $55.55 to $93.80.
 
AAPL shares are currently priced at 14.63x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.20x forward p/e ratio.
 
And for those looking to make a return holding the stock, the company pays shareholders $13.16 per share annually in dividends, yielding 2.00%.
 
Consensus earnings for the current quarter by the 46 sell-side analysts covering the stock is an estimate of $8.53 per share, which would be $1.06 better than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $44.12 would be a $4.37 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 $37.83 Billion. If realized, that would be a 7.11% increase over the year-ago quarter.
 
Recently, ISI Group downgraded AAPL from Strong Buy to Buy (May 9, 2014). Previously, Deutsche Bank Initiated AAPL at to Buy.
 
The average price target for AAPL shares by the analysts covering the stock is $91.74, which is 1.02% below where the stock opened this morning.
 
Summary (NASDAQ:AAPL) :  Apple Inc. and its wholly-owned subsidiaries design, manufacture, and market mobile communication and media devices, personal computers, and portable digital music players worldwide. It also sells software, services, peripherals, networking solutions, and third-party digital content and applications related to its products. The company offers iPhone, a line of smartphones that comprise a phone, music player, and Internet device; iPad, a line of multi-purpose tablets based on AppleĀ’s iOS Multi-Touch operating system; Mac, a line of desktop and portable personal computers; and iPod, a line of portable digital music and media players, such as iPod touch, iPod nano, iPod shuffle, and iPod classic. It also provides Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and various accessories, service and support offerings; and manufactures the Apple LED Cinema Display and Thunderbolt Display. In addition, the company sells various other application software comprising Final Cut Pro, Logic Pro X, and its FileMaker Pro database software, as well as a range of Apple-branded and third-party Mac-compatible, and iOS-compatible peripheral products, including printers, storage devices, computer memory, digital video and still cameras, pointing devices, and various other computing products and supplies. Apple Inc. sells digital content and applications through the iTunes Store, App Store, iBooks Store, and Mac App Store; and its products through its retail stores, online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. The company also sells a range of third-party products through its online and retail stores. It serves various consumers, small and mid-sized businesses, as well as education, enterprise, and government customers. Apple Inc. was founded in 1977 and is headquartered in Cupertino, California.
 
Tag Helper ~ Stock Code: AAPL | Common Company name: Apple | Full Company name: Apple Inc (NASDAQ:AAPL) .

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