Apple's (AAPL) sales outlook and a planned accounting change are overshadowing the company's latest sales and earnings beat. After the bell on Thursday, Apple reported September quarter (fiscal fourth quarter) revenue of $62.9 billion (up 20% annually) and GAAP EPS of $2.91, topping consensus analyst estimates of $61.46 billion and $2.78. Shares fell in after-hours trading due to the guidance, and added to their losses after CFO Luca Maestri stated on the earnings call that Apple plans to end its historical practice of breaking out iPhone, iPad and Mac unit volumes.
For Apple, its probably the fact that they are reaching a point of market saturation. If you have the iphone X right now, there is probably not going to be too much of a reason to get the next generation. Every iteration we get is not giving us the massive jumps in battery life and screen resolution improvements like the previous 10yrs.
Apple Falls Hard From the Tree Nov 23, 2018 With a decline of nearly 25% in less than eight weeks, the recent plunge in Apple (AAPL) has been noteworthy enough, but when you consider the fact that it came from a point where the company had a market capitalization of over $1.1 trillion, we’re not sure if a company has ever lost that much in market cap over such a short period of time. Heck, the $284 billion in market cap that has disappeared from AAPL since its high in early October is greater than the entire market cap of all but nine companies in the US. The chart below shows historical drawdowns in AAPL stock from an all-time high going back to when the iPhone was first introduced. The current 20%+ decline is the fourth such drop of more than 20%. Of those prior drawdowns, the only two where the stock dropped by more than 20% in less than 40 trading days occurred in 2008 when the rest of the market was weak as well as 2012 when concerns over competition and shortages of the iPhone 5 hurt results.
Apple set to open 8% lower after slashing Q1 guidance The plunge would make for Apple's worst day of trading since 2013 if the losses hold. Apple said Wednesday that it now expects first-quarter revenue to be as much as $9 billion lower than previous projections. It's the admission shareholders had been waiting for, after months of supply chain reports and a major shake-up to the company's sales reporting structure. Apple is set to open more than 8 percent lower Thursday, a day after slashing first-quarter revenue guidance in a rare acknowledgement of waning sales. That plunge would make for Apple's worst day of trading since 2013 if the losses hold, and it extends a painful year-end trend for Apple into 2019. The stock, which once traded above $230 per share, shed 30 percent in the fourth quarter of 2018. Shares were trading around $157 premarket Thursday. The company cited longer upgrade cycles and headwinds in China as causing lower-than-expected iPhone sales. Apple now expects first-quarter revenue to be as much as $9 billion lower than previous projections. It's the admission shareholders had been waiting for, after months of supply chain reports and a major shake-up to the company's sales reporting structure. Apple said in November it would stop reporting individual unit sales and revenue figures for its main product lines. As of Wednesday's close, Apple was trading 8 percent down in the last 12 months, and more than 30 percent down from 52-week highs.
$144 is what I had been showing for a price objective from my point and figure work ($2 box and 3-box-reversal). It may overshoot given all the hoopla, but it may also end up being a good buying opportunity .
Apple: "Lets sell our phone for $1200!" Also Apple: "Sales are terrible... weak economy or something..."
Seems this will pull back, might be able to get it on the bottom Bollinger Band. From there, it would be ~40% to prior highs. Not sure it will back-fill the gap below 160.
(Credit: Chart from Sigma by Hydra X) AAPL lifted the curtains on a streaming video platform that includes original programming. The television and video streaming service will allow access via its 1.4 billion gadgets to both in-house content, as well as programming from other creators. The foray into video streaming is in a direct challenge to streaming video leaders Netflix, Amazon and relative newcomer, Disney. Analysts are already asking if it has the stomach to engage with Hollywood. The company also announced a paid news service, Apple News+; a titanium credit card backed by Goldman Sachs; an enlarged ecosystem for Apple Pay, its digital wallet (public transit systems in various US states). The tech giant has been seeking new avenues for revenue growth to combat stalling iPhone sales. Apple stock sold off from resistance at the $197 levels, which coincides also with the 61.8 fib retracement of Oct 2018 highs to Jan lows. It has been on a rally since gapping above its 200-day SMA on 30 Jan. A retracement could find support at the $175 levels.
Apple (AAPL) Hot Streaks Ever since the WWDC event in late March, which was widely panned by many of the company's critics, Apple (AAPL) has been on an absolute tear. In the last ten trading days, the stock has risen 8.12%, and if it holds on to today's gains it will be the first ten-day winning streak for the stock since October 2010! As shown in the chart below, since the launch of the iPod in 2001, this would only be the stock's fourth streak of ten or more days of gains in a row. Additionally, if Apple's winning streak keeps up in tomorrow's trading, it will be the stock's second-longest such streak ever. The only one longer was back in 2003 when it had a 12-day winning streak. Regardless of what happens tomorrow, looking further out the stock typically hits some rough waters over the short term before righting the ship. Following similar streaks, AAPL saw declines in the following week and month on both an average and median basis. Three months out things improve a bit, and six months to one year out, returns have been positive across the board with considerable gains. All in all, with the stock also now extremely overbought (>2 standard deviations from the 50-DMA), some type of short-term mean reversion is increasingly likely.
-2% today The market is taking some steam out of Apple Inc. (AAPL) rapid run so far in 2019 as it anticipates earnings post-market. Shares fell just over 2% in mid-day trading, tempering the over 40% run the stock has made after its pre-forecast on January 3 tanked shares 10% to kick off the year. The pessimism ahead of the print comes as Wall Street has tempered estimates for declining sales and earnings per share, which sets the expectation for the first consecutive quarterly decline in earnings and revenue at Apple in nearly three years.
Good thing these gains are sticking or the market will be pulling much worse into the red. AAPL saves the day!
Going to try a speculative short-ish term trade on this one. Stop at ~$200, If I hold it longer term target of $228. Happy to sell early, but a couple bullish support flags have me nibbling.
So you not buying another iphone this month? My wife upgraded to the X not long ago, I dont see her upgrading for some time.
I think my work phone is an iPhone 6-plus but we are getting upgraded this week...but I don't know why. I either lost my personal Samsung or it got stolen/picked up almost a year ago. I haven't replaced it. Personally, I miss rotary phones, typewriters and toll charges for long distance phone calls. Communication was more careful then. But I know, resistance is futile and I will be fully assimilated in the not too distant future.
