Apple Inc. (NASDAQ:AAPL) poised to report huge growth in App Store sales

Apple Inc. (NASDAQ:AAPL) poised to report huge growth in App Store sales

Apple Inc. (NASDAQ:AAPL) poised to report huge growth in App Store sales

Apple’s iPhone sales may be slowing down, but the company’s App Store business could show better-than-expected revenue growth in the company’s September quarter, Morgan Stanley analysts said in a note Friday.

Morgan Stanley pointed to new research from app data tracking firm Sensor Tower, which shows that August App Store revenue saw the strongest year-over-year growth since February 2018 and the largest month-over-month acceleration since early 2015. The firm maintained its overweight rating and $247 price target on Apple’s stock.

The report comes as Apple is increasingly relying on profits from nonhardware products. Revenue in services, which includes the App Store, Apple Care, Apple Pay, iCloud and Apple Music, are still a smaller revenue contributor than the iPhone, but are expected to become more important over time.

The App Store’s entertainment category posted 28% year-over-year revenue growth, up from 8.3% in July, which should help ease investor fears around entertainment companies “bypassing the App Store billing platform,” Huberty said. Spotify and Netflix have led the charge of companies seeking to sidestep big app stores due to their in-app purchase rules.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 224.23.

The projected lower bound is: 202.83.

The projected closing price is: 213.53.

Candlesticks

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 25 white candles and 25 black candles.

Momentum Indicators

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 88.5155. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 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 58.41. 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 66 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 104.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 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 1 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -0.020 at 213.260. Volume was 30% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open     High      Low     Close     Volume___
214.050 214.420 212.510 213.260 19,362,294
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 207.80 205.26 186.07
Volatility: 38 33 38
Volume: 23,955,984 25,841,378 31,148,172

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 14.6% 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 12 periods.

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