Apple Inc. (NASDAQ: AAPL)
Apple Inc. Earnings & Technicals
After the market close Apple Inc. (AAPL) announced earnings that had mixed results with a softer than expected revenues and iPhone sales outlook but they did release a better than expected earnings per share. AAPL announced earnings per share of $3.28 versus estimates of $3.23 while revenue came up a bit light at $75.9 billion in revenue compared to analyst estimates of $76.6 billion. iPhone sales came in at $51.64 billion just a tad over estimates of $51.1 billion, however, this is the slowest iPhone sales growth since the company introduced the product back in 2007. But what’s really catching investor’s attentions is the guidance AAPL gave for the current quarter ending in March with $50-53 billion in revenue compared to analyst estimates of $55.47 billion. This is well below expectations and should have investors worried.
Shares initially sold off in the post market and then quickly surged up to highs of $103.50 before quickly selling back down below $100. It will be interesting to see where shares open tomorrow but with such a gloomy outlook it could cause for more selling pressure. We should see some support come in at $98.50, $98 and the $97 levels while resistance will be met at $101.15 and $100 levels. There will be an incredible amount of volume on AAPL tomorrow with increased volatility so make sure to keep your stops tight and have your entries well calculated.
Apple, Inc. engages in the design, manufacture, and marketing of mobile communication, media devices, personal computers, and portable digital music players. The firm offers products and services under the iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV brands; consumer and professional software applications under the iOS, OS, X, and watchOS brands; and operating systems under the iCloud and Apple Pay brands. It operates through the following segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA. (MarketWatch)