Apple Inc. (NASDAQ:AAPL) warns retail employees of iPhone parts and replacement device shortages due to coronavirus
While Apple’s assembly partners in China appear to be getting back up to speed after coronavirus-related closures earlier in the year, it seems that some customers may still feel the impact of the outbreak.
Genius Bar staff were on Wednesday notified that supply of certain replacement iPhones may be tight over the next two to four weeks, reports Bloomberg. Certain unnamed Apple stores are facing shortages of individual replacement parts, the report said.
The internal memo further advises Geniuses to offer to mail replacement devices to customers and provide “loaner” iPhones in the meantime.
AppleInsider sources confirmed the note to service providers, but said that while part shortages are possible, they aren’t likely to crop up until the end of April at the earliest. Further, spot-checks show that there is at least six weeks of service iPhone stock in three major metropolitan areas.
In January, the Chinese government extended the local Lunar New Year holiday in an effort to control the spread of the virus. Apple’s supply chain is still recovering, though there is likely to be a discernible impact on the tech giant’s revenue for the quarter.
During the early stages of the outbreak, Apple was also forced to temporarily shutter all 42 of its Apple Store locations in China. While the company is rapidly reopening those locations, some Apple Stores in Italy are also seeing temporary closures.
Apple is still restricting travel to China to “business-critical” operations, and on Tuesday, it implemented new restrictions on Italy and South Korea as well.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 325.08.
The projected lower bound is: 281.31.
The projected closing price is: 303.19.
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 29 white candles and 21 black candles for a net of 8 white candles.
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 86.0981. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 49.33. 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 2 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 -13. This is not a topping or bottoming area. The last signal was a buy 2 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 sell 28 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 13.420 at 302.740. Volume was 69% above average (neutral) and Bollinger Bands were 117% wider than normal.
Open High Low Close Volume___
296.440 303.400 293.130 302.740 54,794,568
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 295.00 307.36 243.44
Volatility: 85 47 34
Volume: 62,734,888 38,746,268 29,312,278
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 24.4% 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 9 periods.