Apple Faces Eight-Day Stock Decline, Evercore Maintains Positive Earnings Outlook
- Stock Decline: Apple's shares fell 0.8% to $257.07 over eight consecutive trading days, marking a total decline of 6.1%, which is the longest losing streak since 1991, indicating market concerns about its future performance.
- Analyst Optimism: Evercore ISI raised Apple's price target from $325 to $330, anticipating that the upcoming earnings report will show revenue growth of 10% to 12%, driven by strong iPhone demand particularly in North America and China.
- Memory Cost Pressure: Despite potential memory chip price increases of 40% to 50%, Evercore believes Apple can mitigate profit impacts through long-term supplier agreements and in-house production capabilities, maintaining its competitive edge.
- Diverging Market Outlook: While Evercore maintains an
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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