Apple Stocks June 12 2017
Apple shares are currently trading for around $143 after Monday's opening bell, around 3.5 percent lower than Friday's closing price of $148.98. Apple's stock has dropped around 8 percent since reaching an all-time high of $156.10 on May 12, amid a wider downturn in the stock market. Technology stocks have been hit particularly hard, as some investment firms fear that stocks like Facebook, Amazon, Netflix, and Alphabet in particular rose too quickly. Japanese bank Mizuho downgraded Apple to a "hold" rating today, as analyst Abhey Lamba believes enthusiasm around the company's upcoming product cycle is "fully captured" at current levels, with limited upside to estimates from here on out. The bank lowered its AAPL price target to $150, down from $160. Apple shouldn't be compared to the likes of Facebook, Amazon, Netflix, and Google, jointly called FANG, as the iPhone maker's stock has significantly under performed against its rivals over the past five years. "For example, the average 'FANG' stock is up 674 percent over the past five years compared to a 100 percent increase for Apple and a 84 percent rise for the S&P 500 Index," said White, in a note obtained by MacRumors. "Even Microsoft has outperformed Apple with a 175 percent increase during this time."So lets hope Apple can step it up.