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Apple Inc. Market Update

11/8/2022 2:30 PM

The price of the stocks of the global giant in the field of development and sale of personal and tablet computers Apple Inc. continues to trade in a corrective trend, being around 139.00.

The company is still experiencing serious difficulties due to disruptions in the operation of manufacturing plants in China, which arose due to the new wave of the COVID-19 pandemic. Earlier, buyers were warned about the expected decline in shipments of the most popular iPhone 14 Pro and iPhone 14 Max models, according to Bloomberg, this reduction will affect at least 3.0M units. Against this background, analysts of the investment bank Deutsche Bank AG have lowered their estimates of the growth prospects of the issuer's shares and predict a delay in deliveries within 24-31 days. 

As for the recent Apple Inc. report, it turned out to be within the preliminary forecasts: revenue was fixed at 90.1B dollars, which exceeded 82.96B dollars a quarter earlier, and earnings per share averaged 1.29 dollars, which is also more than analysts' expectations of 1.26 dollars. The company's dividend policy remains unchanged, and the next payment will take place on November 10, when 0.23 dollars per share will be sent to shareholders, which is an extremely low 0.66% per annum.     


The Broadening Formation pattern continues to form on the daily chart of the asset, within the framework of which another descending wave is now being implemented.

Technical indicators have already reversed and issued a new sell signal: the range of EMA fluctuations of the alligator indicator began to actively expand in the direction of decline, and the histogram of the AO oscillator formed the first bar below the transition level.

Support levels: 134.60, 124.00. | Resistance levels: 142.00, 155.00.

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