AAPL, NFLX, AMZN Stocks Upgraded Today

AAPL stock is pointed lower ahead of the open once again

Josh Selway
Jun 15, 2017 at 9:25 AM
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Analysts are weighing in on tech stocks -- and what some have recently dubbed "FAANG" stocks -- Apple Inc. (NASDAQ:AAPL)Netflix, Inc. (NASDAQ:NFLX), and Amazon.com, Inc. (NASDAQ:AMZN). Here's a quick roundup of today's bullish brokerage notes on shares of AAPL, NFLX, and AMZN.

Apple Stock on Pace for Another Down Day

Cowen reiterated its "outperform" assessment on Apple stock, citing strong earnings from supplier Jabil Inc (NYSE:JBL). At yesterday's close of $145.16, AAPL shares are down from a record high of $156.65 a month ago, and just notched their first close below their 80-day moving average since early December. Ahead of the open, Apple is down another 1.1%, too, as the broader tech swoon continues. This is seemingly bad news for AAPL options traders, who have been buying calls at an accelerated rate in recent weeks. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 2.23, which ranks in the 83rd annual percentile. 

Options Traders Ready for a NFLX Stock Pullback

Netflix stock is also down ahead of the open, shedding 2.4%, despite a price-target hike to $175 at Canaccord Genuity. NFLX hit a record peak of $166.87 last Thursday, and closed last night at $152.20, with the shares recently finding support from their 80-day moving average -- though they're set to breach this trendline today. It appears short-term options traders are prepared for a pullback from Netflix. This is according to the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.16, which ranks in the 76th annual percentile. This means options traders targeting contracts that expire within three months are more put-skewed than normal. 

Another Bull Note for AMZN Stock 

Instinet upped its price target on Amazon stock to $1,100 from $975 -- representing all-time-high territory -- but shares of the-e-commerce giant are still down 1.5% in pre-market trading. This, amid rumors that Amazon.com could be interested in buying Slack Technologies. AMZN closed yesterday at $976.47, up 30% year-to-date, with the recent pullback contained by the equity's 50-day moving average. The vast majority analysts are still bullish on Amazon. By the numbers, 26 of 31 brokerage firms recommend buying the stock, and its average 12-month price target stands at $1,100.84. 


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