APPLE (#APPLE) weekly special report based on 1 Lot Calculation:
ARTIFICIAL INTELLIGENCE (A.I)
- APPLE IN THE A.I. INDUSTRY: According to AlJazeera, Apple revealed a slew of new artificial intelligence-powered features backed by a partnership with OpenAI. Apple executives including CEO Tim Cook unveiled “Apple Intelligence”. The upgrades include an overhaul of the virtual assistant Siri, which will be capable of hundreds of more tasks with the help of ChatGPT. Apple signalled that the company would differentiate itself from rivals Microsoft and Google by putting privacy “at the core” of AI.
APPLE: THE COMPANY
- Apple is the most valuable company in the world and the first company ever to reach a market capitalization of 3.55 trillion dollars, which is almost equal to the Indian GDP of $3.5 trillion (the 5th largest economy in the world by GDP).
- PRODUCTS: iPhone (smartphones), iPad, Apple Watch, Mac and Apple TV.
APPLE: EVENTS AND ANALYSIS
- EVENT (CONFIRMED: THURSDAY, OCTOBER 31, AFTERMARKET): Q3 EARNINGS RESULTS. The company is expected to print 94.36 billion dollars in revenue for Q3, accompanied by a net income of 24.23 billion dollars. This is compared with 89.50 billion dollars in revenue same period last year, which period was accompined by a net income of 22.96 billion dollars. This would mark a year over year increase of 5.40% in revenue and 5.5% in net income.
- PAST PERFORMANCE: Apple has beat earnings and revenue estimates 7 times over the past 8 quarterly earnings releases. This would give a chance of 87.5% that Apple could beat its earnings and revenue estimates for Q3 on October 31, Aftermarket.
DATA SOURCE: BLOOMBERG TERMINAL
Please note that past performance does not guarantee future performance.
APPLE: NEWS
- APPLE iPhone 16 SALES ROSE 20% IN CHINA. According to the Investopedia, iPhone 16 is outselling its predecessor (iPhone 15) in China by 20% in the three weeks since its release.
- APPLE INTELLIGENCE: On October 28, Apple announced the first set of Apple Intelligence features for iPhone, iPad, and Mac users is now available through a free software update with the release of iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1. Apple Intelligence is the personal intelligence system that harnesses the power of Apple silicon to understand and create language and images, take action across apps, and draw from personal context to simplify and accelerate everyday tasks while taking an extraordinary step forward for privacy in AI.
PRICE ACTION
- ANALYST OPINION: Wedbush forecasts $300. Goldman Sachs forecasts $275. Morgan Stanley forecasts $273. Wells Fargo forecasts $275.
#APPLE, October 30, 2024
Current Price: 233
|
APPLE |
Weekly |
|
Trend direction |
|
|
300 |
|
|
275 |
|
|
255 |
|
|
215 |
|
|
210 |
|
|
205 |
Example of calculation based on weekly trend direction for 1 Lot1
|
APPLE |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
6,700 |
4,200 |
2,200 |
-1,800 |
-2,300 |
-2,800 |
|
Profit or loss in €2 |
6,185 |
3,877 |
2,031 |
-1,662 |
-2,123 |
-2,585 |
|
Profit or loss in £2 |
5,164 |
3,237 |
1,696 |
-1,387 |
-1,773 |
-2,158 |
|
Profit or loss in C$2 |
9,323 |
5,844 |
3,061 |
-2,505 |
-3,201 |
-3,896 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 10:40 (GMT) 30/10/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.