APPLE (#APPLE) weekly special report based on 1 Lot Calculation:
ARTIFICIAL INTELLIGENCE (A.I)
- APPLE IN THE A.I. INDUSTRY: According to Al Jazeera, 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 3.44 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, AUGUST 1, AFTERMARKET): Q2 EARNINGS RESULTS. The company is expected to print 84.34 billion dollars in revenue for Q2, accompanied by a net income of 20.628 billion dollars. This is compared with 81.797 billion dollars in revenue same period last year, which period was accompined by a net income of 19.88 billion dollars. This would mark a year over year increase of 3.10% in revenue and 3.76% 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 Q2 on August 1, Aftermarket.
DATA SOURCE: BLOOMBERG TERMINAL
Please note that past performance does not guarantee future performance.
APPLE: NEWS
- APPLE ANNUAL SALES IN INDIA HIT AN ALL- TIME HIGH: According to Bloomberg, Apple’s sales in India hit a record of 8 billion dollars, up 33% over the past 12 months.
- APPLE iPHONE SHIPMENTS IN CHINA ROSE 40% IN MAY: According to Reuters, Apple's smartphone shipments in China rose nearly 40% in May from a year earlier, extending a rebound seen in April.
PRICE ACTION
- ANALYST OPINION: Wedbush forecasts $275. Goldman Sachs forecasts $265. Morgan Stanley forecasts $273. Wells Fargo forecasts $275.
#APPLE, July 19, 2024
Current Price: 225
|
APPLE |
Weekly |
|
Trend direction |
|
|
300 |
|
|
275 |
|
|
248 |
|
|
205 |
|
|
200 |
|
|
195 |
Example of calculation based on weekly trend direction for 1 Lot1
|
APPLE |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
7,500 |
5,000 |
2,300 |
-2,000 |
-2,500 |
-3,000 |
|
Profit or loss in €2 |
6,891 |
4,594 |
2,113 |
-1,838 |
-2,297 |
-2,756 |
|
Profit or loss in £2 |
5,804 |
3,870 |
1,780 |
-1,548 |
-1,935 |
-2,322 |
|
Profit or loss in C$2 |
10,298 |
6,865 |
3,158 |
-2,746 |
-3,433 |
-4,119 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 14:45 (GMT+1) 19/07/2024
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.