Apple Inc. seems the least vulnerable of the four tech giants facing antitrust scrutiny, but there are hints that could change.
In a move that seeks to appease growing objections among developers to the enormous power Apple AAPL, +1.20% wields on its digital platform, the iPhone maker in November said it is halving the commission it charges smaller developers that sell software through its App Store to 15%, starting next year. The commission rate applies to companies that generate no more than $1 million in revenue through the software platform, including in-app purchases.
Apple’s concession is clearly motivated by Epic Games’ antitrust suit filed in August against Apple over App Store rules that require developers to use Apple’s in-app payment system, which takes a 30% commission. In August, the maker of the popular game “Fortnite” launched its own in-app payment system to circumvent what it called Apple’s monopolistic practices. (In June, the European Commission opened two competition probes into Apple related to its App Store and Apple Pay.)
Apple has consistently dismissed the Epic lawsuit and criticisms from antitrust experts that is has abused the App Store.
“Epic started a fire, and poured gasoline on it, and now asks this Court for emergency assistance in putting it out,” Apple said in a 37-page opposition brief. “[E]ven though Epic can do so itself in an instant by simply adhering to the contractual terms that have profitably governed its relationship with Apple for years.”
But Apple likely faces more lawsuits from companies that feel they have been wronged by the most valuable U.S. company. On Thursday, the maker of Cydia, an app store for the iPhone launched in 2007 that predates the App Store, filed a suit. It charges Apple unleashed anticompetitive means to nearly destroy Cydia, so Apple could solidify a monopoly over software distribution on Apple’s mobile operating system.
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.
By the way, prices are vulnerable to a correction towards 116.61.
The projected upper bound is: 131.08.
The projected lower bound is: 115.70.
The projected closing price is: 123.39.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
A piercing line occurred (which indicates that prices moved down on the previous bar, opened even lower, but then closed significantly higher). This implies strength as the momentum appears to be shifting from the bears to the bulls. Note that the higher the close of the white candle (relative to the black candle), the more bullish the Piercing Line pattern.
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 49.5957. This is not an overbought or oversold reading. The last signal was a sell 1 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 58.98. 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 68 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 7 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 1.460 at 123.240. Volume was 100% below average (consolidating) and Bollinger Bands were 41% narrower than normal.
Open High Low Close Volume 120.500 123.870 120.150 123.240 20,295
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 121.98 117.64 96.29 Volatility: 26 42 59 Volume: 87,454,752 113,542,720 163,396,528
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 28.0% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
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 7 periods.