Home
News
- 1 AAPL stock price trades below the major 20, and 50-day daily moving averages.
- 2 Apple Inc. (NASDAQ: AAPL) stock’s 52-week price range is around $124 – $198.
The AAPL stock has a float of 15.62 Billion shares and a market cap of $2.669 Trillion. The Apple Inc. stock’s average volume for the last 10 days is 67.338 Million and its current volume is 56.285 Million. The AAPL stock has a CMP of $170.69 and an intraday gain of 0.15%.
At the time of publishing, the major EMA’s in Apple Inc. (NASDAQ: AAPL) are bearish. MACD shows a bearish cross on the charts with stagnant width in the histogram and RSI is at 37.01 facing resistance from 14 SMA.
However, the stock ratings for Apple stock are positive and highly recommended based on 44 analysts who have evaluated it in the last three months. The 1-year price forecasts for Apple stock by 38 analysts range from $125 to $240, with a high potential for growth.
The AAPL stock has been on an upward trend since March 2020, starting from $42 support and making higher highs and lows until it reached $198 by July 17, 2023. However, the high level was unsustainable for the buyers and the AAPL price declined due to shareholders cashing out after the earnings report. The AAPL stock made another attempt to reach the high but was met with more selling pressure and fell back after reaching $190, and at press time trading at $170.69.
Apple’s latest quarterly balance sheet for the period ending June 2023, reported total assets of $335.04 Billion and total liabilities of $274.76 Billion. The debt-to-assets ratio is at 82.01%, which might be a concern for AAPL stock.
The latest quarterly earnings report for the period ending June 2023, displayed a revenue of $81.80 Billion, with a net income of $19.88 Billion, and a profit margin of 24.31%. This quarter, the reported revenue was exactly matched by analysts’ estimates. The next quarter’s revenue is estimated to be 89.194 Billion.
The AAPL stock’s dividend yield for the TTM is 0.55% and its last dividend payment was 0.24 per share. The last ex-dividend date was August 11th, 2023 and its payout ratio is 15.63%.
Apple Inc. stock has been increasing its dividend amount every year and the dividend in the last five years grew from $0.68 to $0.90 per share. This indicates that AAPL is strong and reliable in terms of its fundamentals and financials and has a long-term potential for growth in its share price.
AAPL Stock Price Technical Analysis in 1-D Timeframe
Apple Inc (NASDAQ: AAPL) is experiencing a decline from $198, The current market price of AAPL stock is $170.69 and went past the previous swing low.
The stock may continue to fall further if it breaks below the current levels and breaks below $160, which could lead to a target of $150. On the other hand, if Apple stock manages to reverse the trend and gain strong buying momentum It could rise above $180, triggering a rally above $190 or higher.
Summary
Apple stock fell from ATH of $198 to $170 after earnings and dividends as it invited some profit bookings. Analysts are bullish on long-term growth and dividend increase. Stock may rebound above $180 or drop below $160 depending on the trend reversal. The technical indicators are bearish.
Technical Levels
Support levels: $160 and $150
Resistance levels: $180 and $190
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
