G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Azeem Sheriff - @Azeem__Sheriff
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Trading Idea of the Day
NYSE:AAPL - Apple Inc - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Apple seems to be a fan favorite of a few superinvestors, 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.
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: Cameco, Energy Fuels and Paladin fuelled by uranium rush
Podcast of the Day: Portfolio manager Caroline Cai’s take on an emerging markets’ debt crisis
APAC Daily Report
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 8am AEDT
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher base metal prices.
Global Markets Headlines
Meta shares plummet 14% on weak fourth-quarter forecast and earnings miss (CNBC)
Ford reveals third-quarter net loss, weighed down by supply chain problems and Argo AI investment (CNBC)
Mobileye pops more than 37% in market debut after spinning out of Intel (CNBC)
Seagate will cut 3,000 employees in latest sign of major PC and cloud slowdown (CNBC)
Apple’s new App Store rules over ‘boosted ads’ provoke Facebook again (CNBC)
Meta and Microsoft can’t self-regulate their metaverses, UK regulator warns (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)