Stocks Breaking Down: Shares Of Apple Inc. (AAPL) Trade Down, Here’s Why
Apple Inc. (AAPL), a Consumer Electronics organization, was a bullish stock in the prior trading session. Apple Inc. (AAPL) shares opened at $284.69 and closed the day at $282.80 with declining move of -1.36%. This decrease move lagged the Dow’s +2.99% gain for the prior trading session.
Apple Inc. (AAPL) is focused on the Consumer Electronics sector. This stock market sector has seen some volatility from day traders in recent days. Bullish day traders of Apple Inc. (AAPL) will be looking for positive upcoming earnings whereas bearish day traders of Apple Inc. (AAPL) will be looking for negative earnings. The last time Apple Inc. (AAPL) had an earnings surprise was on Qtr Ending 12/19 when they reported $4.99 compared to an estimate of $4.54 which was a difference of $+0.45 resulting in a change of +9.91%. Current earnings estimates are to be released for Current Qtr 03/2020 on Apple Inc. (AAPL) and out of 9 Wall Street estimates the average is saying $2.10. The high estimate is saying $2.53 whereas the low estimate is saying $1.73 and the prior year Apple Inc. (AAPL) announced earnings at $2.46 a growth rate est. (year over year) of -14.63%.
The market performance of Apple Inc. (AAPL) has varied recently. Year to date Apple Inc. (AAPL)’s shares are down -3.69%. Over the past 12 weeks Apple Inc. (AAPL) is down -11.41% and over the last 4 weeks Apple Inc. (AAPL) is up 15.53%. Apple Inc. (AAPL) current income statement shows revenue (ttm) of $267.68B. Gross Profit is $98.39B. This puts the current EBITDA of Apple Inc. (AAPL) at $78.12B.
Wall street day traders might also notice recent changes to stock analyst estimates for Apple Inc. (AAPL). The stock is trading with an RSI (relative strength index) of 55.23 indicating Apple Inc. (AAPL) is neither overbought nor oversold. Technically, AAPL’s short term support levels are around $12.14, $174.19 and $165.30 on the downside. AAPLs short term resistance levels are $23.72, $23.12 and $22.49 on the upside. The market cap of Apple Inc. (AAPL) is $1.237T and institutions hold 61.69% of the stock. The outstanding share count stands at 4.42B while the short float (shares short) stands at 0.89%.
Research shows that these financial estimate changes look to be directly correlated with short-term shares prices. The day traders can look to capitalize on the basis of ranking. Apple Inc. (AAPL) has short term rating of Bullish (0.25), Intermediate rating of Neutral (0.01) and long-term rating of Neutral (-0.11) giving Apple Inc. (AAPL) an overall rating of Neutral (0.05).
The EPS growth this year on Apple Inc. (AAPL) is decreased -2.60% and is expected to increase 19.86% next year. However, quarterly earnings (EPS) growth year over year on Apple Inc. (AAPL) has increased by 19.30% and quarterly revenue (Sales) growth year over year stands at 8.90%. Gross margin is detected at 37.90% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 21.50% while return on equity (ttm) is 60.20%.
2020-04-15 – Goldman Sachs Says Activated Global Business Continuity Plan, With About 98% Of Global Employees Working Remotely. 2020-04-14 – Apple Releases Mobility Data Trends Tool From Apple Maps To Help Mitigate Covid-19 Spread. 2020-04-13 – IDC Says Traditional PC Shipments Saw Sharp Decline In Q1. 2020-03-25 – Apple Weighs Delaying Launch Of 5G iPhone By Months – Nikkei, Citing Sources. 2020-03-19 – STMicro: agreement signed with unions to cut production on French sites til April 2.
Apple’s business primarily runs around its flagship iPhone. However, the Services portfolio that includes revenues from cloud services, App store, Apple Music, AppleCare, Apple Pay, and licensing and other services now became the cash cow. Moreover, non-iPhone devices like Apple Watch and AirPod gained significant traction.