Market Analysis: Strong Report Brings AAPL Closer To Year's High

FXOpen

According to the report of AAPL's activities for the Q1:

→ iPhone revenue: $51.3 billion (+2% yoy);

→ the revenue from services: $20.9 billion (+6% yoy);

→ the company is launching a buyback worth up to USD 90 billion in the next 12 months;

→ the company increases its dividend by 4% to 24 cents per share.

Although sales of iPads and computers fell, rising sales of iPhones (which account for more than half of the company's revenue) caused AAPL to rise 2.5% in premarket prices. At the opening of today's trading session, the price could be around USD 170 per share.

Thus, even today, the price of AAPL shares can renew the maximum since the beginning of the year, and also try to gain a foothold above the upper limit of the long-term channel (shown in blue), which technically gives a signal to buy AAPL shares. On the emotional side, AAPL looks like a market leader and a sound investment.

However, opening a long position could turn out to be a hasty decision if stock markets decline amid the growing threat of the US national debt ceiling. At the same time, a false bullish channel breakdown pattern may form on the chart.

According to a poll of analysts by the WSJ, the average price forecast for an Apple share is USD 180 for the coming year.

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.

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

Your Gateway to the Chinese Market: A Look at 10 Newly Added ETF CFDs A look at FXOpen’s new ETF CFDs: American, Chinese and Indian markets at your fingertips MSFT Analysis: New All-time High NVDA Analysis: Share Price Reaches 2-month High on News of New Chips Stocks Continue to Climb: Nasdaq's Impressive Winning Streak

Latest articles

Forex Analysis

European Currencies at Strategic Levels

The downward trend in the US currency continues to gain momentum. Thus, the euro/dollar pair yesterday tested important resistance at 1.1000, the pound/dollar pair strengthened to 1.2700, and the usd/cad pair fell below 1.3600.

Indices

Market Analysis: Stock Market Reaction to US GDP News

According to data released yesterday, the US economy is growing at a stronger pace than expected. Thus, US GDP in the 3rd quarter increased by 5.3% in annual terms (an increase of 4.9% was expected). Combined with softening

Cryptocurrencies

BTC/USD Analysis: New High for the Year Shows Bulls Are Indecisive

During November, the price of bitcoin increased by approximately 10% in anticipation of the launch of a bitcoin ETF. But the positive sentiment of crypto investors is seriously overshadowed by news regarding Binance: → Changpeng Zhao resigned as head of Binance.

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.