Apple Inc. (NASDAQ:AAPL) reportedly warns stores of iPhone replacement shortages

Apple Inc. (NASDAQ:AAPL) reportedly warns stores of iPhone replacement shortages

Apple Inc. (NASDAQ:AAPL) reportedly warns stores of iPhone replacement shortages

Apple’s coronavirus-related iPhone supply shortage might cause problems if you total your handset in the near future. Apple store workers talking to Bloomberg say they’ve been warned that replacement iPhones will be in low supply for up to two to four weeks. Reps can reportedly mail out replacements and offer loaner iPhones in the meantime, but there’s no guarantee you’ll walk out of a Genius appointment with a brand new device in hand.

We’ve asked Apple for comment.

The company’s factory partners only briefly stopped manufacturing to deal with the coronavirus outbreak, but there has already been evidence of strain on Apple’s inventory across multiple fronts. iPhone 11 volumes have reportedly shrunk slightly worldwide, while the iPad Pro has also suffered shortages. Limited stock for replacement iPhones would be the most conspicuous sign of trouble, however, as it’s something you might notice even if you have no intention of upgrading in the near future.

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 315.49.

The projected lower bound is: 270.89.

The projected closing price is: 293.19.

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 29 white candles and 21 black candles for a net of 8 white 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 81.0904. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 44.99. 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 3 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 -29. This is not a topping or bottoming area. The last signal was a buy 3 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 sell 29 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -9.820 at 292.920. Volume was 43% above average (neutral) and Bollinger Bands were 115% wider than normal.

Open     High      Low     Close     Volume___
295.520 299.550 291.410 292.920 46,893,220
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 292.26 307.63 243.99
Volatility: 86 48 34
Volume: 64,910,064 38,303,476 29,353,684

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 20.1% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on AAPL.O and have had this outlook for the last 10 periods.

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