Apple is investigating whether the riot was caused by its Taiwanese iPhone assembler Wistron breaking guidelines over staff pay and working conditions.
Following the riot at Wistron’s plant near Narasapura, India, Apple has announced that it is probing whether the supplier broke its guidelines for the iPhone assembler. According to Reuters, Apple has said that it is cooperating with local police.
“We have teams on the ground,” said Apple in an email to Reuters. “[We] have immediately launched a detailed investigation at Wistron’s Narasapura facility.”
The protest by some thousands of contract workers concerned both unpaid wages and better working conditions. The rioting caused an estimated $60 million in damages to equipment.
Wistron, has filed a police report accusing more than 5,000 workers and 2,000 further unknown people, of the damage. The company has not commented on Apple’s investigation, but said in the filing that it is “deeply shocked” by the violence.
The Narasapura plant is where Wistron has reportedly been recruiting heavily for staff in recent months. The plans were to generate a total of 10,000 jobs at the facility.
Apple reportedly also said that its teams included auditors and that it is dedicated to ensuring all workers are treated with dignity and respect.
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players.
The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications.
The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.
The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa.
The Greater China segment includes China, Hong Kong and Taiwan.
The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company’s other operating segments.
Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 116.78.
The projected upper bound is: 129.48.
The projected lower bound is: 114.43.
The projected closing price is: 121.96.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 40.1149. This is not an overbought or oversold reading. The last signal was a sell 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 54.95. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 70 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 9 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -0.630 at 121.780. Volume was 46% below average (neutral) and Bollinger Bands were 39% narrower than normal.
Open High Low Close Volume 122.600 123.350 121.540 121.780 79,075,984
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 122.83 117.92 96.80 Volatility: 25 41 58 Volume: 90,575,368 113,272,224 160,791,664
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
APPLE INC is currently 25.8% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 9 periods.