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APPLE STRONGLY BULLISH AS RESULTS BEAT ESTIMATES - Capital Street FX

31-Oct
20:31 IST

Apple is currently trading at 247.33-higher by 1.67% as compared to the previous closing. In Pre-market trading on Thursday, the stock was trading higher by 1.36%. The stock has continued gaining after the opening bell.

The company reported its fiscal fourth-quarter earnings after the market close on Wednesday. Apple reported EPS of $3.03, 20 cents above the market estimates. Revenue of $64.04 billion was also above the market expectation of $62.94 billion.

The company issued guidance for the next quarter that was above the consensus estimates. The iPhone-maker expects fiscal first-quarter sales in the range of $85.5 billion to $89.5 billion. The midpoint ($87.5 billion) of sales forecast was above the market expectation of $86.9 billion. The company now has 450 million subscribers to its own or third-party services on its devices.

On the technical front, the RSI is currently at 69.89% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands and is heading upwards.

Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.

 

TRADE SUGGESTION- LIMIT BUY AT 247 TAKE PROFIT AT 249 STOP LOSS AT 246

 

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01-May
19:22 IST

Apple is currently trading at 211.35-higher by 5.32% as compared to the previous closing. In Pre-market trading on Wednesday, the stock was trading higher by 5.24%. The stock has continued gaining after the opening bell.

The company reported its fiscal second-quarter earnings after the market close on Tuesday. Apple reported EPS of $2.46, 10 cents above the market estimates. Revenue of $58.02 billion was also above the market expectation of $57.37 billion.

The company issued guidance for the next quarter that was above the consensus estimates. The iPhone-maker expects third-quarter revenue in the range of $52.5 million to $54.5 billion, above the median forecast of $51.94 billion.

Apple also announced that it would spend $75 billion in buying back its own stocks. The company also approved a 77 cents dividend per share.

On the technical front, the RSI is currently at 71.87% and suggests that the market can move in the upward direction. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 65% and suggests that the market can move in the upward direction.

Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.

 

TRADE SUGGESTION- STOP BUY AT 211.50 TAKE PROFIT AT 213.00 STOP LOSS AT 210.70

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