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Coronavirus Derails Apple Inc. (NASDAQ:AAPL) From Realizing iPhone Shipment Target

Coronavirus Derails Apple Inc. (NASDAQ:AAPL) From Realizing iPhone Shipment Target

Apple might ship fewer than expected iPhone units during the first quarter of the year, according to Shayne Heffernan, CEO and Founder of Heffx.

In an investors note, Mr. Heffernan outlined his expectations when it comes to Apple’s iPhone shipments during the first quarter of 2020, saying it is less than the number of units the Cupertino tech giant shipped at the same time last year.

Mr. Heffernan known for his solid track record when it comes to making predictions about Apple’s products, said the iPhone maker’s performance is affected by the current spread of the 2019 Novel Coronavirus (2019 nCoV).

Mr. Heffernan also emphasized that he is unsure as to the number of units Apple might ship next quarter due to the current outbreak and the worries it has caused among consumers, whether inside or outside China.

Despite these predictions, Mr. Heffernan didn’t change his estimates regarding Apple’s earnings or stock target price. He simply advised that investors should look at the iPhone’s supply chain “after the Coronavirus epidemic becomes stable.”

Until then…

The 2019 nCoV epidemic has caused a lot of worry and fear among consumers, and has affected Apple’s business inside China, where the virus has spread.

In response to the epidemic, Apple has closed all of its offices and retail stores in China, and will keep them closed until Feb. 9, CNBC reported. The Cupertino tech giant indicated that it hopes to open these “as soon as possible,” but whether it will be able to remains to be seen. It will continue to monitor the situation, it said. 

Technical Indicators

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 322.75.

The projected lower bound is: 297.97.

The projected closing price is: 310.36.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 28 white candles and 22 black candles for a net of 6 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 62.5163. This is not an overbought or oversold reading. 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 52.95. 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 1 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 -65. This is not a topping or bottoming area. The last signal was a sell 0 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 6 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed down -14.360 at 309.510. Volume was 77% above average (neutral) and Bollinger Bands were 8% wider than normal.

Open     High      Low     Close     Volume___
320.930 322.680 308.290 309.510 49,897,096
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 317.49 289.53 231.56
Volatility: 40 26 30
Volume: 36,715,176 30,032,974 27,921,762

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 33.7% above its 200-period moving average and is in an upward 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 bullish on AAPL.O and have had this outlook for the last 113 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

HEFFXhttp://www.heffx.com
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.

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