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Investors Business Daily
Investors Business Daily
Technology
INVESTOR'S BUSINESS DAILY and JULIE MAK

iPhone Maker Apple Stock Receives Composite Rating Upgrade

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

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 and Voxx International are also among the group's highest-rated stocks.

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