Apple Inc. will be a $3 trillion company soon. Experts argue that the upcoming Vision Pro could lead the rally, and AAPL Stock is up by 0.08%. Apple ethusiasts believe that the AR headset Vision Pro is the next big thing from the company after the Apple Watch and it could boost the tech giant’s revenue. However, the company decided to delay the rollout of the headset.
Apple Inc. (AAPL Stock) – Financial Analysis
The tech giant is increasingly achieving impressive milestones as it scales new heights, both from a technological and economic perpsective. Investors must alter their positions for long-term benefit. Moreover, market experts say that the Vision Pro rollout could boost the company’s market cap, but as the rollout has been delayed, it could be a cause for worry.
Connecticut Wealth Management LLC increased its stake in Apple Inc. by 17.6% in Q1 2023. The fund owns 60,187 shares worth $9.92 million. St James Investment Advisors LLC also raised stakes by 98.3% in Q4 2022 as they added 117 shares to the portfolio, currently worth $31k. HBC Financial Services PLLC grew its position by 21.7% in Q1 2023 and the shares are worth $49k.
Data from StatCounter reveals a significant drop in Google Chrome’s market share year-on-year (YoY) as Apple’s Safari browser takes the lead. In June 2023, Chrome’s market share was around 62%, while Safari claimed about 66%.
At press time, NASDAQ: AAPL Stock is trading at $190.69 with a slight jump of 0.08%. Its previous close and open were at $190.54 and $190.23, respectively. The 52-week range is from $124.17 to $194.48, indicating that the current price could soon cross the yearly high. With an average volume of 61.62 million shares, the market cap is at $2.999 trillion.
The trailing twelve-month (ttm) price-to-earnings (P/E) ratio is 33.38, indicating that the share price is slightly overvalued. At the same time, the Earnings per Share (EPS) is reported to be $5.89. Analysts have placed a 2.67 rating for moderate buy and estimated a price target of $181.25 with a 4.9% downside.
Apple Inc. reported its last earnings on May 4, 2023, where the reported revenue of $94.836 Billion managed to surpass the expected value of $92.906 Billion by 2.08%. At the same time, the reported earnings were $1.52 per share, beating the estimated value of $1.429 per share by 6.36%. The subsequent earnings will be revealed on August 3, 2023, with estimates for earnings at $1.191 and for revenue at $81.673 billion.
The operating expenses jumped by 8.57% to $13.66 billion, while the operating margin swelled by 29.16%. The (ttm) revenue is $385.1 billion, while the quarterly revenue growth (YoY) drops by 2.50%. The net income falls by 0.89% to $25.4 billion, the net profit margin drops by 0.89% to 25.48, and the profit margin gained by 24.49%.
Total cash in hand at the end of the most recent quarter (mrq) is $55.87 billion, while the total debt in a similar time frame is $109.61 billion. NASDAQ: AAPL dropped 0.38% in a week and rallied 15.86% in three months, 44.43% in six months, and 46.37% YTD.
Apple Inc. (AAPL Stock) – Candle Exploration
A steep ascending trendline and the upward trajectory of EMA indicate a bullish momentum. If it continues, the price might break the 52-week high, creating new highs in the process. The RSI value of 62.56 shows strength but it is too close to the overbought zone, making it hard for the price action to cross the 52-week high.
If the price drops, it shall form support at $177.41 and could bounce off to consolidate in a narrow range. If the price drops below the immediate support, it shall meet S1 at $162.32. As this point coincides with the EMA, the chances of the price dropping below this point are slim.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets & stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/17/apple-inc-aapl-stock-to-be-a-3-trillion-company-soon/