Apple (NASDAQ:AAPL) Stock Could Gain 32% in 2021 – Live Trading News
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Apple
Ticker: NASDAQ:AAPL
Price: $121.76
Apple News
Apple’s stock could gain 32% in 2021 as the company is on track to smash previous records for sales of its iPhone next year, Wedbush said on Tuesday.
A report showed Apple is planning to produce up to 96 million iPhones, up 30% year-on-year and higher than Wall Street expectations, in the first half of next year. The company may overall sell 230 million older and new iPhone models in 2021, according to the report, above consensus forecasts of 215 million.
Apple shares gained nearly 2% in pre-market trading after the report.
But Wedbush analysts Dan Ives and Strecker Backer offered an even more bullish outlook, saying they expect Apple to sell over 240 million iPhones, which would handily beat its previous record of 231 million sold in 2015.
There is massive demand for the iPhone 12 from consumers looking for a phone upgrade with its refreshed design, a better screen on the standard model, and night mode on all cameras.
iPhone 12 pre-orders more than doubled those for the preceding iPhone 11, pointing to a strong start for the company on its “flagship supercycle product,” Wedbush noted. The firm maintained its outperform rating on Apple stock and projected a 12-month price target of $160 per share.
China remains a vital component for Apple’s 5G supercycle as it could account for as much as 20% of upgrades to the iPhone 12. The iPhone 12’s range with 5G connectivity is a key reason why the phone will be popular in China.
Business Summary
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players.
The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications.
The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.
The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa.
The Greater China segment includes China, Hong Kong and Taiwan.
The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company’s other operating segments.
Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 117.06.
The projected upper bound is: 135.91.
The projected lower bound is: 120.30.
The projected closing price is: 128.11.
Candlesticks
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 60.0517. This is not an overbought or oversold reading. The last signal was a sell 4 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 65.88. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 71 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 6.100 at 127.880. Volume was 9% above average (neutral) and Bollinger Bands were 30% narrower than normal.
Open High Low Close Volume 124.340 127.900 124.130 127.880 157,572,256 Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish Moving Averages: 10-period 50-period 200-period Close: 123.35 118.15 97.08 Volatility: 34 42 59 Volume: 93,515,912 114,298,792 159,982,144
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
APPLE INC gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
APPLE INC is currently 31.7% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 10 periods.
