Apple Inc. (APPL stock) - Can Fed Decision Hurt Price?

Apple Inc. (APPL) is in the breakthrough zone, but Fed’s interest rate decision and today’s FOMC meeting might derail it. Tech stocks have gained significantly amid the ongoing banking crisis; Giants like Apple and Microsoft gain big time. The tech heavy index jumped 11.6% this year, while S&P 500 gained 2.9%. Can they continue riding the waves, or will they tumble?

Is Apple Inc. (APPL) Close to a Breakout?

On the first trading day of 2023, APPL hit its fifty-two-week low, but is now up by nearly 21% and is close to a breakout. The FOMC meeting of the Federal Reserve is scheduled for March 22. The meeting is expected to conclude with a rate hike, which could hurt the stock rally.

The current rate of APPL stock is hovering over its last week’s high of $156.74, giving bulls a weekly-up rotation. Interestingly, it is also slightly over its fourth-quarter-high of $157.50, meaning its also in its quarterly-up rotation. If this trend continues and the Fed’s report is received positively by the market. APPL’s share price could undergo a breakout.

Apple Inc. (APPL) – The Number Game

When writing, APPL stock was trading at $159.28 with a gain of 1.19%; previous close and open were at $157.40 and $157.32, respectively. At the same time, the fifty-two-week change was a drop of 6.42%. With a volume of 73.76 million shares and the average volume of 70.38 million, Apple’s market cap stood at $2.52 trillion. Analysts have targeted the price at $168.03 with an upside of 5.5%.

Concerning data from December 2022, the following data has changed accordingly. Revenue dropped 5.48% from $117.15 billion, while revenue per share was $24.08%. Operating expenses increased by 12.24% from $14.32 billion, while the operating margin remained at 29.41%.

Net income dropped 13.38% from $30 billion; the net profit margin suffered by 8.34% from $25.61, and the profit margin remained at 24.56%. Earnings per share (EPS) dropped 10.48% from $1.88, while revenue per share remained at $24.08. The quarterly revenue growth dropped by 5.50%, and the return on assets and equity was 19.57% and 147.94%, respectively.

The last earnings were reported on February 2, 2023; the estimated revenue was $121.333 billion, and the reported was $117.154 billion. The surprise here was negative $4.179 billion and dropped by 3.44%.

Apple Inc. (APPL) – Candle Exploration

The current rate for APPL has already broken the immediate R1 at the $157.65 mark and is supposedly moving into the supply zone. But its confirmation can be after a few days of consolidation over this point. As it is already above an upward-sloping trend line, the chances of northern movement are higher.

If the Fed’s report harms the market sentiments, APPL might drop to the immediate S1 at $143.77. It is then supposed to consolidate between support and resistance before declining ahead. A breaking of immediate S1 and a movement towards the demand zone can only be after a very negative report.

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 comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing