Apple Inc. (NASDAQ:AAPL) revenue and Apple stock remain tied to the iPhone

Apple Inc. (NASDAQ:AAPL) revenue and Apple stock remain tied to the iPhone

Apple Inc. (NASDAQ:AAPL) revenue and Apple stock remain tied to the iPhone

We are now at the halfway point between last year’s iPhone event and the announcement of the 2019 iPhones, which is expected in mid-September. And we’re already beginning to see details emerge about the 2020 iPhones … Apple (NASDAQ: AAPL ) may be focused on services like Apple TV+ at the moment, but the reality is that AAPL revenue and Apple stock remain tied to the iPhone.

And a series of leaks from the supply chain suggest the company is pulling out all the stops in an effort to reverse the current slide in iPhone sales, including big moves in 2019 and next year.

Triple Camera Coming to This Year’s Big iPhone

Apple helped to popularize the multi-camera setup that has become a standard in current smartphones – with the exception of Alphabet’s (NASDAQ: GOOG , NASDAQ: GOOGL ) Google Pixels series. But the two-camera system AAPL introduced with the iPhone 7 Plus is now falling behind the competition. Samsung’snew Galaxy S10 features a triple camera and Huawei’s P30 Pro has four cameras.

Apple is reportedly working on a triple camera system for the 2019 version of the iPhone Max. That is expected to deliver 3X optical zoom, and could also offer enhanced 3D sensing for augmented reality applications and better low light performance.

2019 iPhones Also Expected to Feature Two-Way Wireless Charging
Apple killed the AirPower wireless charging mat that was announced at the 2018 iPhone launch. However, the company still has wireless charging ambitions.

The 2019 iPhones will reportedly feature two-way wireless charging . This means the iPhone itself could charge AAPL’s latest AirPods wireless earbuds simply by setting the AirPods case on the iPhone’s back. To make two-way wireless charging more practical, Apple is expected to also boost the battery capacity for the 2019 iPhones.

Sounds good, but this feature was also a part of the latest Galaxy S10.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 180.11.

The projected upper bound is: 202.62.

The projected lower bound is: 186.91.

The projected closing price is: 194.76.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with APPLE INC), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.

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 79.5593. This is not an overbought or oversold reading. The last signal was a sell 7 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 69.99. 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 sell 6 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 128.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 3 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 2.780 at 194.020. Volume was 37% below average (neutral) and Bollinger Bands were 8% narrower than normal.

Open High Low Close Volume___
191.090 194.460 191.050 194.020 22,765,732

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

Moving Averages: 10-period 50-period 200-period
Close: 190.22 175.15 190.58
Volatility: 29 29 39
Volume: 34,294,340 29,125,850 33,671,572

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 1.8% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 46 periods.

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