On February 2, 2024, Tim Long, a renowned Barclays analyst, reaffirmed his “Underweight” rating on Apple (AAPL) while revising the price target slightly down from $160 to $158. Long has built a strong reputation for his expertise in the Technology sector, boasting an impressive success rate of 62-71% in his stock predictions.
The recent adjustment in the rating can be attributed to concerns surrounding the demand for the iPhone 15, as well as apprehensions about the upcoming iPhone 16 sales. Additionally, Long expressed worries about potential risks to Apple’s services business due to increased regulatory scrutiny.
It is worth noting that this downgrade aligns with Long’s persistently bearish outlook on Apple, a stance he has maintained for a considerable period. The analyst’s cautious approach reflects his assessment of the company’s performance and the challenges it may face in the future.
AAPL Stock Analysis: Mixed Performance on February 2, 2024
On February 2, 2024, AAPL stock had a mixed performance. According to data from CNN Money, AAPL was trading near the top of its 52-week range and above its 200-day simple moving average, indicating a strong performance overall.
The price of AAPL shares had increased by $2.46 since the previous market close, representing a rise of 1.33%. The stock had closed at $186.86, suggesting a positive trend in its value. However, in pre-market trading, the stock experienced a drop of $5.14, which could potentially impact its overall performance for the day.
AAPL’s trading near the top of its 52-week range suggests that investors have been bullish on the stock over the past year. Additionally, trading above its 200-day simple moving average indicates that the stock has been on an upward trajectory in the long term.
The increase of $2.46 in the price of AAPL shares since the last market close is a positive sign for investors, as it indicates that demand for the stock is strong. This rise of 1.33% could be attributed to various factors such as positive news about the company, strong financial performance, or overall market sentiment.
However, the drop of $5.14 in pre-market trading raises concerns and could potentially impact the stock’s performance for the day. Pre-market trading refers to the buying and selling of stocks before the official opening of the stock market. It is often influenced by overnight news, earnings reports, or global market events.
Investors should closely monitor the stock’s performance throughout the day to gauge its overall trajectory. While the positive momentum and increase in price since the last market close are encouraging, the drop in pre-market trading could potentially indicate a shift in sentiment. It is important to consider the broader market conditions and any significant news or events that may impact AAPL’s performance.
As with any investment, it is crucial for investors to conduct thorough research, analyze market trends, and consult with financial advisors before making any investment decisions. The stock market can be volatile, and prices can fluctuate rapidly, so it is essential to stay informed and make well-informed decisions based on reliable data and analysis.
AAPL Stock Performance on February 2, 2024: Stable Revenue and Slight Improvements
AAPL Stock Performances on February 2, 2024
According to data from CNN Money, Apple’s total revenue for the past year stood at $383.29 billion. Comparing this figure to the total revenue from the previous year, it is evident that the company has managed to hold its revenue flat. However, when comparing the total revenue from the fourth quarter of the previous year to the present, there has been a notable increase of 9.41%. Similarly, Apple’s net income has remained flat since the previous year, with a figure of $97 billion. Additionally, the net income has also held steady since the previous quarter, with a figure of $22.96 billion. The earnings per share (EPS) for Apple stood at $6.13 for the past year. Similarly, the EPS has also remained unchanged since the previous quarter, with a figure of $1.46. Overall, Apple’s stock performances on February 2, 2024, have shown stability and slight improvements in certain areas. Investors and stakeholders in Apple can be reassured by these figures, as they indicate the company’s ability to maintain its profitability and financial stability.
