Apple Inc. (NASDAQ:AAPL) s Quietly Expanding its Artificial Intelligence Ecosystem

Apple Inc. (NASDAQ:AAPL) s Quietly Expanding its Artificial Intelligence Ecosystem

Apple Inc. (NASDAQ:AAPL) s Quietly Expanding its Artificial Intelligence Ecosystem

Apple (NASDAQ: AAPL) recently acquired Xnor.ai, a Seattle-based start-up that develops low-power, edge-based artificial intelligence tools. Apple didn’t disclose the terms of the deal, but GeekWire claimed that the deal was worth about $200 million.

Apple reportedly paid a similar amount for Turi, another Seattle-based company that specializes in machine learning and AI, in 2016. Apple also recently acquired British AI start-up Spectral Edge for an undisclosed sum.

But those acquisitions are just the tip of Apple’s AI iceberg. Apple has acquired over 20 AI companies since 2010, according to CB Insights, surpassing the number of AI acquisitions by Alphabet‘s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, Microsoft, Facebook, and Amazon (NASDAQ: AMZN). Apple also poached Google’s AI and Search chief John Giannandrea in 2018.

All these moves indicate that Apple is aggressively expanding its AI ecosystem, even though its applications are less visible than Google and Facebook’s implementation of AI for targeted ads, or Amazon’s use of AI for sorting product listings. Let’s delve into Apple’s AI plans and see how they could shape the tech giant’s future.

Technical Indicators

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 289.39.

The projected upper bound is: 329.20.

The projected lower bound is: 311.62.

The projected closing price is: 320.41.

Candlesticks

A white body occurred (because prices closed higher 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 31 white candles and 19 black candles for a net of 12 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 80.2232. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 76.40. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 38 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 81. This is not a topping or bottoming area. 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 sell 0 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 1.530 at 319.230. Volume was 4% below average (neutral) and Bollinger Bands were 58% wider than normal.

Open     High      Low     Close     Volume___
317.920 319.560 315.650 319.230 26,117,992
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 314.84 283.16 228.03
Volatility: 21 20 28
Volume: 32,044,316 27,712,008 27,401,500

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 40.0% 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 107 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH