Apple, IBD Stock Of The Day, Holds Tight After Upbeat Earnings Report

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Apple Inc

Apple Inc

AAPL

$0.05 0.03% 43%

IBD Stock Analysis

  • Shares deed bargain constituent of 145.19 retired of consolidation successful July
  • Buy portion extends to 152.45; much introduction points are possible
  • Look for banal to interruption abbreviated downtrend, oregon to signifier level base

Composite Rating

Industry Group Ranking

Emerging Pattern

Consolidation

* Not real-time data. All information shown was captured at 1:10PM EDT on 08/09/2021.

Apple (AAPL) is the IBD Stock Of The Day arsenic the user electronics elephantine shows spot up of its iPhone 13 motorboat adjacent month. Apple banal is trading conscionable beneath its all-time high.

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On the stock marketplace today, Apple inched down a nickel to 146.09.

On July 9, Apple banal reached a buy point of 145.19 arsenic it broke retired of a 23-week consolidation pattern, based connected a play illustration connected IBD MarketSmith. It remains successful the 5% bargain zone, which extends to 152.45.

Apple notched a grounds precocious of 150 connected July 15 up of the company's June-quarter net report on July 27.

Apple Stock In Narrow Trading Range

Earlier, connected June 30, Apple banal deed a bargain constituent of 137.17 retired of a cup base, according to a regular MarketSmith chart.

Apple banal has been trading successful a constrictive scope since it posted blowout results for its fiscal 3rd 4th ended June 26, acknowledgment to beardown iPhone sales. Lately, it has recovered enactment astatine its 21-day exponential moving average.

Apple stock could connection an further bargain constituent if it breaks its existent abbreviated downtrend. Also, if it keeps moving sideways for 2 much weeks, it would signifier a flat base.

All Eyes On iPhone 13 Launch

The adjacent imaginable catalyst for Apple banal apt volition beryllium the instauration of the company's iPhone 13 handsets successful September. The caller models volition beryllium Apple's second-generation 5G smartphones aft the existent iPhone 12 series.

On Monday, Monness Crespi Hardt expert Brian White reiterated his bargain standing connected Apple banal with a terms people of 184.

In a enactment to clients, White said, "Apple has enhanced its worth proposition (during the Covid-19 pandemic) by introducing caller innovations (and) supporting a much integer lifestyle."

He believes the iPhone 13 motorboat successful September volition beryllium the adjacent mover for Apple stock.

Apple Car In The Works?

Meanwhile, the Korea Times reported Monday that Apple has been successful talks with aggregate Korean companies astir supplying components for the rumored Apple electrical vehicle. Apple has held "early signifier talks" with LG Electronics, SK Group and Hanwha Group, the nonfiction said.

Apple banal has an IBD Composite Rating of 89 retired of 99, according to IBD Stock Checkup. IBD's Composite Rating is simply a blend of cardinal cardinal and method metrics to assistance investors gauge a stock's strengths. The champion maturation stocks person a Composite Rating of 90 oregon better.

But Apple has a mediocre IBD Relative Strength Rating of 66 retired of 99. The Relative Strength Rating shows however a stock's terms show stacks up against each different stocks implicit the past 52 weeks.

Also, Apple banal has an IBD Accumulation/Distribution Rating of C-, indicating lackluster organization buying of shares.

Follow Patrick Seitz connected Twitter astatine @IBD_PSeitz for much stories connected user technology, bundle and semiconductor stocks.

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