Italy Launches Antitrust Investigation Into Apple (NASDAQ:AAPL)

Italy Launches Antitrust Investigation Into Apple (NASDAQ:AAPL)

$AAPL #Apple #iPhone #StockSplit #USA #Nasdaq #Stocks #Trading

Apple
Ticker: NASDAQ:AAPL
Price: $120.96

Apple News

The antitrust authority in Italy has announced that it is investigating allegations over fairness and improper commercial practices over cloud services by Apple, Google, and Dropbox.

Alongside its recent investigation into alleged price fixing, Italy’s antitrust regulator has announced that it is separately looking how companies including Apple are running their cloud service businesses in the country.

This latest antitrust investigation joins very many similar ones facing Apple around the world. The company is currently being investigated over issues regarding Apple Music, the App Store, Apple Pay and more.

Italy’s AGCM has previously found against Apple in a case concerning the company’s intentional slowing down of iPhones with older batteries. In 2018, the authority levied a 10 million euro ($11.1M) fine which Apple then unsuccessfully appealed.

Business Summary

Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players.

The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications.

The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.

The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa.

The Greater China segment includes China, Hong Kong and Taiwan.

The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company’s other operating segments.

Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.

Price Performance

Relative Valuation

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 110.68.

The projected upper bound is: 130.32.

The projected lower bound is: 112.79.

The projected closing price is: 121.56.

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 29 white candles and 21 black candles for a net of 8 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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 30.6851. 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 54.93. 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 -84. This is not a topping or bottoming area. The last signal was a sell 1 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 1 period(s) ago.

Rex Takasugi – TD Profile

APPLE INC closed up 0.080 at 120.960. Volume was 100% below average (consolidating) and Bollinger Bands were 67% wider than normal.

Open     High      Low      Close       Volume
120.070  123.700   110.890  120.960     365,272
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           126.35        106.86         82.15
Volatility:      62            50             57
Volume:          189,989,488   163,549,568    161,251,280

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 47.2% 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 25 periods.

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