FXOpen
Yesterday, after the close of the main trading session on the stock exchange, the largest company by capitalization reported for the quarter.
- AAPL EPS of USD 1.26 (expected $1.195);
- Gross revenue was USD 81.8 billion (as expected);
- The decline in iPhone sales was offset by strong sales in the services segment (which includes Apple TV+) and sales in China, which were up 8% year-on-year.
However, AAPL's share price fell in premarket today, probably because market participants are concerned about:
- a forecast for a further decline in iPhone sales;
- vague prospects for the release of a new product Vision Pro;
- Apple's rising R&D spending reaching USD 22.61 billion a year.
The capitalization of the company fell below USD 3 billion.
The AAPL stock price chart shows that the price has not reached the psychological level of USD 200, while the market may be supported by:
- the lower limit of the rising channel, within which the price has been moving since the spring of 2023;
- the level of USD 176 per AAPL share – the price repelled from it in June.
The opening of trading is expected at the level of USD 187. According to MarketWatch analysts, the target price for AAPL shares is USD 195.00.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies 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
Latest articles
Market Analysis: American Currency Rises Sharply after Fed Meeting
As expected, the decision on the interest rate had a powerful impact on the markets. Thus, the euro/US dollar pair lost more than 100 pp in just a couple of hours and updated its recent low at 1.0630,
Oil Analysis: Finally, A Bearish Reversal?
The policy of OPEC+ countries to voluntarily reduce oil production was one of the drivers thanks to which the price of WTI oil increased by approximately 40% from its low in June. In such cases, it is appropriate to use
Central Bank Week Shakes Up Gold Market
Yesterday, the main event of the week took place — the Federal Reserve meeting, which had a noticeable impact on the market of assets denominated in US dollars. But besides the Fed meeting, there are a number of other events this