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.