Market Analysis: AAPL Shares Fall after Strong Report


AAPL shares rose approximately 1.2% during the session yesterday in anticipation of a strong Q3 report. It actually turned out better than predicted:
→ earnings per share: actual = USD 1.46; forecast = USD 1.39;
→ gross income: actual = USD 89.49 billion; forecast = USD 89.34 billion.

However, as a result, the price of AAPL shares decreased; in the pre-market on Friday, the share price was about USD 171.50, although yesterday it closed at USD 177.78 according to the NASDAQ exchange (minus 3.50%).

The reason is the company's disappointing plans for the future.

Tim Cook refused to answer a question about Apple's investments in AI. And Apple Chief Financial Officer Luca Maestri failed to reassure investors that there would be a surge in sales over the holiday period, saying gross revenue would be similar to what it was a year ago. So analysts can expect the company to continue to show a decline in sales, which already looks like a trend for 2023.

AAPL stock price performance shows that the stock market is largely a reflection of hopes, emotions and belief in rumors. In fact:
→ the price continues to move in a downward trend (shown by the blue channel);
→ growth to its upper limit in the hope of a positive report turned into a collapse;
→ the opening of trading today may take place at the bottom of the channel;
→ bears may attack the psychological level of USD 170 per share today. This level is also important because it is approximately 50% of the price increase from the March lows to the highs of the year.

If the USD 170 level is broken by the bears with the extension of the candle body and increased volumes, it could become an important resistance further down the line. So close to losing the status of the most valuable company.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

Coinbase (COIN) Stock Price Holds at Key Support Level The Share Price of Alibaba (BABA) Has Reached Its Yearly High The Stock Price of PepsiСo (PEP) Is Retracting from Its Yearly High Moderna goes AI and experiences share price rally Rivian Stock Goes High as Q1 Report Anticipation Mounts

Latest articles


Coinbase (COIN) Stock Price Holds at Key Support Level

On Thursday, stock market traders were concerned about the sharp drop in Coinbase shares, listed on the Nasdaq, which fell by 9%. This was triggered by rumours that the Chicago-based CME Group is planning to launch cryptocurrency trading, posing a

What Is the Gold/Silver Ratio, and How Do Traders Use It?
Trader’s Tools

What Is the Gold/Silver Ratio, and How Do Traders Use It?

The gold/silver ratio, which measures the relative value of these two precious metals, is a vital tool for commodity traders. Understanding this relationship helps identify market trends and trading opportunities. This article explores how to calculate, analyse, and trade

Financial Market News

Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks

Get he latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. Read the latest news

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.