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Need 4 Speed - ASX Report - 24/10/22

ASX trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets NextGen platform and follow us on Twitter: 

Azeem Sheriff -  
CMC Markets - 

Trading Idea of the Day

NASDAQ:AAPL - Apple Inc - BULLISH BIAS

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Apple seems to be a fan favourite of a few super investors, given the likes of Warren Buffett have it as his largest holding by far within Berkshire Hathaway.
  • The company continues its pattern of solid performance, posting record revenue figures of US$83 Billion for the quarter ending June 25th 2022. Overall profit margin remained relatively flat however net income was lower than the same quarter last year thanks to higher R&D and administrative costs.
  • The impacts of the latest iteration of the iPhone are yet to be seen on the balance sheet, however recent news of Apple reversing their plans to increase manufacturing output could potentially point to lower-than-expected sales which could present a fantastic buying opportunity for those long-term investors and Apple bulls.

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: GinsGlobal Index Funds CEO Anthony Ginsberg’s thematic radar 
Podcast of the Day: Why Cohesive Capital’s John Barber is bullish about private equity

APAC Daily Report

Market Snapshot & Highlights as of 8am AEDT

EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher base metal prices.

Global Markets Headlines

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

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