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- 1 Apple stock price showed a bearish trend in its recent trading session which opposes its all-time price performance.
- 2 The decline in the Apple stock was not major but with bears’ dominance its weekly start noted a bearish trend.
Apple Inc. (NASDAQ: AAPL), an American multinational technology company, has a market cap of nearly $3.02 Trillion. In its second quarter (Q2) 2023 results released on May 4, 2023, the company reported its net income of $24.16 Billion. Its earnings per share for Q2 2023 is $1.52, whereas the estimation was $1.43 which accounts for a 6.36% surprise. The revenue for the same period amounted to $94.84 Billion, despite the estimated figure of $92.91 Billion.
For the upcoming quarter, the estimated earnings per share is $1.19, while the revenue is expected to reach $81.69 Billion.
Apple Inc. noted $394.33 Billion revenue last year, most of around $205.49 Billion came from its highest performing source at the moment, iPhone. It must be noted the greatest contribution to the revenue figure was made by the U.S., as last year it brought the Trillion-dollar company $147.86 Billion.
According to a latest report by Financial Times, a British daily newspaper, Apple Inc. is cutting its production target for the Vision Pro headset due to manufacturing issues for the complex headset design. Amid this news, AAPL share price plunged a little bit, while its all-time performance showed a bullish outlook.
Apple Stock Price Analysis
On July 3, 2023, Monday, Apple stock price showed little price decline with 0.78%, while closing at $192.46. The stock opened at $193.78, gave high at $193.88 and noted low at $191.76. In the most recent week, Apple stock noted a 3% price rise, while over 47% year-to-date (YTD) growth.
As the above price chart indicates, in the recent trading session Apple stock accumulated bears which took its price down a little. However, the stock price is still showing an upside rising graph which is already a little bit above its 20-day moving average. Moreover, the RSI is also resting in the overbought zone which clearly shows investors support with Apple Inc.
The quite good trading volume in Apple stock supported its trading price to follow an upside track. However, the upsurge holds due to recent bears’ dominance. Notably, near to July 26, 2023, Apple Inc. likely to release its third quarter results. So in the upcoming days, AAPL stock can perform quite volatile while a tough battle can be seen between the active bulls and bears.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
