Tesla’s CEO, Elon Musk said that there’s a reason to be too concerned with Apple Inc. (NASDAQ:AAPL)‘s purported plans for an autonomous car. The statement came on Tesla (TSLA)’s quarterly earnings call, an investor asked whether Musk would consider Apple (AAPL) a partner or a competitor on self-driving cars, to which he responded there’s no indication that the company was looking to enter the space.
“I don’t know what they’re doing on the car front,” he said. “It’s not clear.” Musk, who didn’t say much on the topic, said he did, however, have an iPhone. “It’s a cool company,” he said. Apple Inc. (NASDAQ:AAPL) shares slumped -0.31% to $147.06 on Wednesday.
This simply means the US tech giant is looking for, or will likely need an automaker partner, as reportedly Apple refocused its secret autonomous-car plans, recently acquired a self-driving permit for testing and deployment from the California DMV. It’s highly unlikely that Apple would set off to build the car itself — it’s plausible that the company will focus primarily on the software or brains behind the autonomous system.
Technical Stock Analysis
Shares outstanding are recorded as 5251.65 billion and total shares floated are 5243.34 billion. Current ratio which is the relationship between current assets and current liabilities, indicating the liquidity of a business is calculated as 1.20. Company’s distance from 20 day simple moving average is 2.65% and distance from 50-Day simple moving average is 4.09%.
Best time to invest in stock market is when things are on odd side, and it’s not easy how to pick stocks. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. Stock has got OUTPERFORM rating from 23 analysts of Thomson Reuters, 9 analysts given HOLD rating to the stock and 1 given UNDERPERFORM rating. Analyst’s mean target price for AAPL is $148.96 while analysts mean recommendation is 2.00.
Apple Inc. (NASDAQ:AAPL) yearly performance is 57.77% and net profit margin is 20.70%. Annual EPS Growth of past 5 years is 16.00%. The current share price indicates that stock is -0.70% away from its one year high and is moving 66.83% ahead of its 52-week low.
On 03 May 2017, Steris Plc (NYSE:STE) shares moved to $75.26 after starting the day at $74.97. Stock has got OUTPERFORM rating from 4 analysts of Thomson Reuters, 1 analyst given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for STE is $80.86 while analysts mean recommendation is 1.90.
At the movement Ralph Lauren Corporation (NYSE:RL) is under coverage by number of analysts. Buy rating has been given by 0 analysts to the company stock whereas 1 analyst given UNDERPERFORM rating to stock and 15 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 3.11 on scale of 1-5. Analysts mean target price for Ralph Lauren Corporation (NYSE:RL) is $78.41 while their mean recommendation is 3.10 (1=Buy, 5=sell).
If we look at stock performance in last active day trading, we see that stock has moved went down -1.16% to end the day at $79.87. The current share price indicate that stock is -29.11% away from its one year high and is moving 6.27% ahead of its 52-week low.
On 03 May 2017, Simon Property Group, Inc. (NYSE:SPG) shares moved to $165.59 after starting the day at $169.46. Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 6 analysts of Thomson Reuters, 7 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for SPG is $203.75 while analysts mean recommendation is 2.00.