#3 - Apple (NASDAQ:AAPL)
Apple Inc. (NASDAQ: AAPL) is the last of the Magnificent 7 stocks on this list. But it's not hard to see why. Apple has lost some of its luster in the tech sector. That's what happens when it's been a minute since the company launched a disruptive innovation. And like Tesla, Apple also has a China problem as demand for its iPhones is below forecast.
Apple is one of the most widely owned stocks by institutional investors. The Apple float is around 16.5 billion shares. Therefore, the short interest of 0.75% is not a big concern. However, short interest in AAPL stock is up more than 14% in the month ending February 29, 2024, and has been remarkably consistent over the last three years. That simply shows that the stock is a playground for buyers and sellers alike.
A rock solid balance sheet and cash position make Apple a hold for long-term investors. However, Apple is a different story for traders.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $254.49
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $236.78 (7.0% Downside)
