Apple Inc. (NASDAQ:AAPL) Falling Off Top-5 In China

Apple Inc. (NASDAQ:AAPL) Falling Off Top-5 In China

Apple Inc. (NASDAQ:AAPL) Falling Off Top-5 In China

  1. Apple is at risk of falling out of the top 5 smartphone vendors in China
  2. Local brand Xiaomi snagged the fourth-place spot that was held by Apple, according to Canalys.
  3. The iPhone 8 is expected by some analysts to revamp Apple’s influence in China.
  4. It’s an area where Apple has struggled in recent years, with sales down 14 percent year over year last quarter.
  5. President Trump says he’s finally gotten somewhere in his years-long crusade to get Apple to build more products in the US. In an interview with The Wall Street Journal today, Trump said that Apple CEO Tim Cook called him and committed to build “three big plants, beautiful plants” in the United States.
  6. For now, there’s no detail beyond that. Apple declined to comment to the Journal and hasn’t responded to our own request for comment.
  7. If Trump’s statement is correct, that’d be a big investment on Apple’s behalf and a significant change of pace. Right now, Apple only has Mac Pros manufactured in the US, and it hasn’t even committed to continuing that.
  8. Apple also generally prefers to work with outside suppliers, so it can source parts from multiple companies and shield itself from risk — such as when it turns out that an entire factory is worthless because its manufacturing method didn’t pan out.

Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. The Company distributes its products worldwide through its retail stores, online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. In February 2012, the Company acquired app-search engine Chomp.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 157.89.

The projected lower bound is: 147.46.

The projected closing price is: 152.67.

APPLE INC closed up 0.650 at 152.740. Volume was 28% below average (neutral) and Bollinger Bands were 27% wider than normal.

Open          High             Low           Close           Volume
151.800      153.840      151.800     152.740      18,853,932

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period        200-period
Close:                       149.87             149.16              132.69
Volatility:               10                      22                     20
Volume:                  21,664,456      26,521,472      28,320,804

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.

Summary

APPLE INC is currently 15.1% 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 6 periods.

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 75.4622. This is not an overbought or oversold reading. The last signal was a sell 2 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 66.44. 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 47 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 116.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 11 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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