Apple benefits from the success of the iPhone: the stock market advice

Apple is causing a stir. Despite a difficult context, the Cupertino company generated record sales thanks to the success of the iPhone for the quarter ending at the end of June and its installed base of active devices reached a record level, said the financial director. “With 816 million paying users subscribing to the company’s various services, Apple is also achieving good results in its service activities such as Apple Music and Apple Pay”, notes David Derhy, market analyst at eToro.

Apple spoils its shareholders, the group having paid them 28 billion dollars over the last quarter in the form of share buybacks or dividends. Apple stock has already rallied strongly lately and it doesn’t look sold out, with market capitalization representing more than 23 times expected earnings for 2023. While JPMorgan, Citigroup and Raymond James advise buying the stock Goldman Sachs, Barclays and Credit Suisse have a neutral opinion (a share at its price, therefore).

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From the point of view of technical analysis, the action Apple continued its momentum, after the overflow of the horizontal bar of 151-152 dollars and attacks, at the time of this writing, the average mobile at 200 days (curve in blue on the chart), not far from the lower limit of the former bullish channel, a former support which now acts as resistance.

Apple: price action and technical analysis Capital (Investing data)

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