Company Update: Apple Inc (NASDAQ:AAPL) – Google paid Apple $1B to stay on iPhones: Report

[at CNBC] – Google shelled out $1 billion to Apple in order to remain a search option on iOS devices, according to a report from Bloomberg. Read more on this. Apple Inc. (AAPL) , valued at $555.67B, began trading this morning at $98.64. Shares have traded today between $98.37 and $100.28 per share and has traded between $92.00 and $134.54 over the past 12 months. AAPL shares are currently priced at 10.13x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.89x earnings multiple for the same period. The company pays shareholders $2.08 per share annually in dividends, yielding 2.15%. According to a consensus of 39 analysts, the earnings estimate of $3.23 per share would be $0.17 better than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $9.51 is a $0.29 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $76.67 Billion. If reported, that would be a 2.77% increase over the year-ago quarter. In terms of ratings, BofA/Merrill upgraded AAPL from Neutral to Buy (Jan 12, 2016). Previously, Mizuho upgraded AAPL from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $142.67, which is 44.64% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Stock Update: Apple Inc (NASDAQ:AAPL) – How Apple could lose its place as world’s biggest company Company Update (NASDAQ:AAPL): This app can make your cheaper Google smartwatch look just like an Apple Watch Company Update (NASDAQ:AAPL): Apple Ranked Most Recognizable IoT Brand, with Google Least Recognized among Consumers – New Report from ThroughTek