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Apple Capitalizes on iPhone Success: Stock Market Advice

Apple is causing a stir. Despite the difficult context, the Cupertino-based company posted record sales thanks to the success of the iPhone in the quarter ended at the end of June, and its active device installed base hit an all-time high, the CFO said. “With 816 million paying users subscribing to the company’s various services, Apple is also doing well in its services such as Apple Music and Apple Pay,” said David Dery, market analyst at eToro.

Apple is spoiling its shareholders: in the last quarter, the group paid them $28 billion in share buybacks or dividends. Apple shares have already risen strongly recently, and they do not look sold as the market cap is more than 23 times the expected earnings for 2023. While JPMorgan, Citigroup and Raymond James are buying Goldman Sachs stocks, Barclays and Credit Suisse are neutral (the stock at its price, therefore).

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In terms of technical analysis, Apple stock continued its momentum, after overflowing the $151-$152 horizontal bar and attacking the average mobile 200 days at the time of writing (blue curve on the chart), not far from the lower border of the former bullish channel, former support, which now acts as resistance.

Apple: price action and technical analysis Equity (investment data)

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