• Apple reports earnings after the close on Thursday.
  • With the Fed out of the way, the road is cleared for the stock superpower.
  • AAPL could help turn the entire market sentiment after Microsoft beat.

 

Apple is due to report earnings after the close on Thursday. With the Fed meeting ending today, investors will then focus on the tech sector to hopefully end the bearish mood currently hitting markets. Tech names along with a not-too-surprising Fed could turn things around. Sentiment is beginning to look overdone, but it is imperative to get solid earnings from the tech sector. So far the bank sector has disappointed, while the energy sector looks like it should outperform. This week as we mentioned in our preview note is key with 104 of the S&P 500 companies reporting. 

Apple Stock News

Apple reports after the close on Thursday, January 27. Earnings per share (EPS) is expected to come in at $1.89 on revenue of $118.28 billion. Wall Street analysts also expect Apple to have sold 80 million iPhones in the last quarter. Bank of America certainly is looking to the upside as it outlines in a note out this morning. The bank sees iPhone sales coming in at 81 million and sees a strong revenue number of $121 million, well ahead of forecasts. 

Analysts have been active this week on the name ahead of earnings. Earlier we reported on Goldman Sachs maintaining their $142 price target ahead of earnings, while Morgan Stanley expects strong iPhone deliveries to maintain bullish earnings.

As ever the commentary around earnings will be as important as the earnings themselves. Last time out the dreaded supply chain and chip issues came to light, so we will look for more clarity around these areas.

Apple Stock Forecast

$157 is big, very big. A break and it likely heads to $148, which is a huge volume profile support and the point of control. But breaking $157 does put in a new lower low and so continue the downtrend. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both look quite stretched, but the RSI is not yet oversold. The MACD, meanwhile, is at its lowest since March of last year, and the histogram is also at its widest in a year. Earnings then could be the catalyst to turn this trend around. 

Apple (AAPL) chart, daily

 

 


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