Apple foldable OLED iPhone ditches Samsung

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The Motley Fool owns shares of and recommends Apple. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker's stock valued at $1,177,522,000 after acquiring an additional 91,860 shares in the last quarter. Apple comprises about 4.4% of Baldwin Brothers Inc.

Several institutional investors have recently modified their holdings of the company.

Specifically, Apple is supposedly looking into an advanced type of LCD display called 'Full Active LCD', made by Japan Display. Cordasco Financial Network lifted its position in shares of Apple by 1.5% in the 2nd quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Apple during the first quarter valued at about $201,000. (NASDAQ:AAPL) traded up 0.568% on Wednesday, hitting $156.785. The company's stock had a trading volume of 9,510,423 shares. The stock has an average rating of Buy and a consensus price target of $157.06. The firm has a market capitalization of $136.46 billion, a P/E ratio of 17.758 and a beta of 1.27. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st. The move is also interesting because Samsung is the sole supplier of OLED panels for this year's iPhone X. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $52.90 billion for the quarter, compared to analysts' expectations of $52.61 billion. Apple's revenue for the quarter was up 7.2% on a year-over-year basis.

We're still awaiting the first OLED iPhone to ship with the iPhone X in less than a month, and new rumors are surfacing about a future iPhone with a foldable display.

COPYRIGHT VIOLATION WARNING: "Somerset Trust Co Has $4.77 Million Holdings in Apple Inc. (AAPL)" was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. The ex-dividend date of this dividend was Thursday, May 11th.

In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The stock was sold at an average price of $162.20, for a total value of $1,698,071.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 541,177 shares of company stock worth $85,864,804. Insiders own 0.08% of the company's stock. Nomura reissued a "buy" rating and set a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Drexel Hamilton reaffirmed a "buy" rating and issued a $202.00 price objective on shares of Apple in a research report on Tuesday, June 13th.

Also, since many iPhone buyers are repeat buyers, after buying their first iPhones with 12W power adapters, those customers would eventually find themselves with a bunch of expensive power adapters that they don't really have any use for. Nine analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. The company's 50 day moving average is $147.47 and its 200 day moving average is $130.57.

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