Apple Inc.

What is AAPL?

Apple Inc. is not only a designer and manufacturer, the company too offers various services, such as Apple Arcade, a game subscription service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, subscription news, and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property.

Is AAPL a good pick?

Apple (AAPL) presented its results for the third fiscal quarter of 2021. For the quarter, Apple posted revenue of $81.43 billion, up 36% year-over-year, and a profit of $21.74 billion. Earnings per share were $1.30. This compares to revenue of $59.7 billion and profit of $11.25 billion in the same quarter last year. Apple also presented its product sales numbers, showing a breakdown of revenue by product category. This is the breakdown for the third fiscal quarter of 2021. $39.57 billion: iPhone (up 49.7%), $8.24 billion: Mac (up 16.38%), $7.37 billion: iPad (up 12%), $8.78 billion: Wearables, Home, and Accessories (up 36.12%), and $17.49 billion: Services (up 32.90%).

Technical analysis

As we can see in the chart, from July 15, 2021, to August 27, 2021, AAPL maintained a price average of $146.71. From August 27, 2021, to September 07, 2021, the share price climbed 7% due to U.S. Treasury yields falling. From September 07, 2021, to October 06, 2021, AAPL suffered a -12% decline after Evergrande, one of China's largest real estate developers, also a member of the Global 500, announced a crisis affecting the international stock market. From October 06, 2021, to October 28, 2021, it recovered 10% value due to the U.S. and China agreeing to hold a virtual summit. Two weeks later the share price plumped -3%. From November 12, 2021, to December 13, 2021, AAPL entered an uptrend increasing 23% of its value mainly due to the anticipation people have about the future products Apple is working on, the Apple car and VR-AR glasses. One week later AAPL fell -7% to $167.46 but it recovered 5% quickly to $176.28.

According to current technical indicators, the share price could decrease 2.4% to %171.95 touching the 0.236 support but if it breaks the 0.236 support could reach the 0.382 support to $165.59.