July 6, 2022

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WEBSITE NEWS UPDATE

iPhone Maker Apple Stock Receives Composite Rating Upgrade

2 min read

The IBD SmartSelect Composite Rating for Apple (AAPL) rose from 94 to 96 Wednesday.




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The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The market’s biggest winners often have a 95 or higher score in the early stages of a new price run, so that’s a good item to have on your checklist when looking for the best stocks to buy and watch.


See How IBD Helps You Make More Money In Stocks


Is Apple Stock A Buy?

Apple stock has been staging a strong rally in recent weeks and is currently forming a consolidation, with a 183.04 buy point. See if the stock can break out in volume at least 40% higher than normal. Keep in mind that it’s a later-stage base, and those involve more risk. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Check out “Stock Picks: Best Stocks To Buy And Watch.“

The iPhone maker stock earns a 95 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 95% of all stocks.

Its Accumulation/Distribution Rating of D shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.

In Q1, the company reported 25% EPS growth. Sales growth came in at 11%, down from 29% in the previous quarter.

Apple stock holds the No. 1 rank among its peers in the Telecom-Consumer Products industry group. Ooma (OOMA) and Voxx International (VOXX) are also among the group’s highest-rated stocks.

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