Check out the trading idea of the week below, by your friendly, neighbourhood market analyst!
Trading Idea of the Week
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.