An Attractive Apple Entry Point; Analysts, Options Traders Bullish on Oracle

Pandora's last breakout attempt was extinguished by its 50-day moving average

Jul 5, 2017 at 10:03 AM
facebook twitter linkedin


Analysts are weighing in on iPhone maker Apple Inc (NASDAQ:AAPL), streaming music service Pandora Media Inc (NYSE:P), and software stock Oracle Corporation (NYSE:ORCL). Here's a quick roundup of today's bullish brokerage notes on shares of AAPL, P, and ORCL.

Apple Stock Offers Attractive Entry Point

Apple stock is up 0.04% at $143.54, after Citi reportedly reiterated its "buy" rating and $160 price targeting, saying the shares are presenting an attractive entry point ahead of the company's next iPhone release. AAPL has been trading below its 50-day since after its June 9 pullback, but is still up almost 51% year-over-year. Meanwhile, call buying has remained the preferred strategy from options traders, but puts have actually been more popular than normal lately. For example, Apple's 10-day put/call volume ratio of 0.59 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks above 75% of readings from the past year. 

Short Sellers Stay After Pandora Stock

Pandora stock has opened nearly 2% higher at $8.94, after Morgan Stanley resumed coverage with an "overweight" rating and $12 price target. P shares haven't topped the $12 mark since early April, with their most recent breakout attempt quickly thwarted by the descending 50-day moving average. Short sellers continue to target Pandora. During the past two reporting periods, short interest is up roughly 20%. 

KeyBanc Upgrades Red-Hot Oracle Stock

KeyBanc upgraded its rating on Oracle to "overweight" from "sector weight," lifting ORCL 0.85% today to $49.77. It's been a great year for the stock, which recently gapped higher to hit a record high of $51.85 on June 22. In fact, Oracle stock is up almost 29% year-to-date. Near-term options traders certainly seem optimistic. This is according to ORCL's Schaeffer's put/call open interest (SOIR) of 0.49, which is only 5 percentage points from a 12-month low. Said differently, options traders targeting options expiring within three months are unusually call-skewed. 

 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!