Apple Inc. (NASDAQ:AAPL) iPhone Production Shifts To Older Models
Apple has increased production of the year-old iPhone 8 and two-year-old iPhone 7 in the current quarter by a combined 5 million units. Meanwhile, it is lowering its production of current-generation models by the same amount, Arcuri said.
Apple’s 12th-generation iPhones are its most expensive smartphones yet. Introduced in September, the iPhone XS Max, XS and XR are priced starting at $1,099, $999 and $749, respectively. The prior year’s iPhone X, 8 Plus, and 8 lineup started at $999, $799 and $699.
Apple kept two older models in its handset lineup at lower prices. The iPhone 7 now starts at $449 and the iPhone 8 starts at $599.
“While March (quarter) mix is still bad, the tone in the supply chain is starting to improve,” Arcuri said in a note to clients.
Increased Sales Estimate
For the June quarter, he increased his estimate for iPhone sales to 34.5 million units from 32.5 million. However, the increase is based entirely on more older model iPhone units being sold, he said.
Arcuri thinks the iPhone average selling price will fall to $655 in the June quarter, vs. his prior target of $683.
Arcuri reiterated his buy rating on Apple stock with a 12-month price target of 185. Apple stock rose 0.3% to 174.87 on the stock market today.
Overall, the bias in prices is: Sideways.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 173.54.
The projected upper bound is: 186.77.
The projected lower bound is: 163.13.
The projected closing price is: 174.95.
A white body occurred (because prices closed higher than they opened).
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 26 white candles and 24 black candles for a net of 2 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 76.1416. This is not an overbought or oversold reading. The last signal was a sell 12 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 65.17. 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 buy 36 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 126.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 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 1 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.540 at 174.870. Volume was 29% below average (neutral) and Bollinger Bands were 65% narrower than normal.
Open High Low Close Volume___
173.210 175.000 172.730 174.870 27,835,388
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 172.18 161.30 191.27
Volatility: 10 49 38
Volume: 21,698,176 36,539,720 32,558,570
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 8.6% below 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 moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 22 periods.