Several analysts on Wall Street are downgrading their already-downsized price of Apple Inc. (NASDAQ:AAPL) stock because they believe that the next iPhone will not launch until September. Apple is going to announce it next earnings report in about one month.
Due to increase in the high-end smartphone market, it has become a challenge for Apple to deliver the same levels of sales growth. This will continue until Apple Inc. actually posts results for its third fiscal quarter in the week of July 22-26, based on the company’s past practices.
As per FactSet report, average price target on Apple’s shares has fallen by 33% since the stock peaked just above the $700 mark in late September. But the actual stock price has fallen nearly 43% in that same time frame. The Wall Street’s current mean target sits at $530 which is more than 33% above the stock’s current trading range just under the $400 mark.
Research In Motion Ltd (NASDAQ:BBRY) anticipates second quarter operating loss versus $0.12 Capital first Quarter Consensus Estimate. Smartphone market is highly competitive; it’s difficult to earn revenues.
Blackberry reports first quarter results, with missed on revenues with loss of $0.13 per share, however company’s revenues soared 9.4% year on year basis to $3.07 billion versus the $3.36 billion consensus.
Research In Motion Ltd posted first quarter total smartphone shipments of 6.8 million versus the expectations of 7.6 million units.
Research In Motion Ltd (NASDAQ:BBRY) shares fell -2.88% in last trading session and is closed $ 14.91 with average volume 22.18 million shares, in Pre-market trading BBRY stock fell -19.48%. Research In Motion Ltd generated income of $ -847.00 million in last twelve months and sales of $ 12.59 billion.Analytic Ratios; Price to sales ratio of BBRY in past twelve months was calculated as 0.60 and price to cash ratio as 2.78. BBRY return on equity ratio is recorded as -8.67% and its return on assets is -6.35%.
Apple Inc. (NASDAQ:AAPL) shares fell -1.08% in last trading session and is closed $ 398.07 with average volume 13.47 million shares, in Pre-market trading AAPL stock fell -0.22%.Apple Inc generated income of $ 39.67 billion in last twelve months and sales of $ 169.10 billion. Analytic Ratios; Price to sales ratio of AAPL in past twelve months was calculated as 2.19 and price to cash ratio as 9.45. AAPL return on equity ratio is recorded as 32.20% and its return on assets is 21.70%.