AAPL: My Technical Analysis on Apple Stock

AAPL: My Technical Analysis on Apple Stock

Over the years, Apple Inc. has been a winning corporation and its stock has been performing well for the same number of years. Their fundamentals and financials are solid, but looking at the technicals (technical analysis) shows the same positive growth and performance.

Apple has been a strong tech competitor, with the iPhone strongly boosting the company’s revenue beginning in 2007, and its App Store, streaming services and iCloud services being a major factor in the iPhone’s continued success. Apple has also had much success with its Macbooks, iPads, iMacs and all the accessories and peripherals that go with these computer products. Apple is legendary, founded by Steve Jobs and Steve Wozniak, in a garage in Palo Alto, and the rest is history.

But let’s look at the stock’s performance in the past year!

AAPL showed a STRONG rebound from the stock market crash of March 2020. The stock showed resilience and support levels held up.

1. I drew a support line (gray) indicating that the trend was mostly upward in a year. That’s good.

2. For the most part, the 20 day moving average (blue) was above the 50 day moving average (light gray). Another good sign.

3. The 200 day moving average (dotted pink line) also trended upward. Yet another good sign.

AAPLs quarterly reports in 2020 were positive with strong revenue, mostly due to more people spending time online and quarantined at home during the covid pandemic. There is also AppleTV, which did better in 2020. In general, streaming services did well during 2020.

Apple’s next quarterly report should be very good, since historically it always does well in the quarter after the holiday season.

And let’s not forget…

Apple is the most valued company in the world with a 2.1 trillion dollar marketcap!

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Portfolio Manager & Musician

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