aapl long
180.00 next stop, average analyst price target is 190. Makes sense that they're undervalued since small scares like "iphone x lower sales expected" puts this security on sale. Investors are quick to understand that this doesn't change its book value because the business's revenue growth is no longer dependent of a single new phone. Now, apple has reported that the older phones such as 6 and 7 are contributing to higher revenue compared to the Iphone X. Also, yesterday apple reported app store revenue up 30% from last year. These numbers are hard to beat, apples intrinsic value is 190 in my opinion. Based off of open interest contracts, it looks like 180 is the next stop for traders. I'd expect maybe some consolidation for earnings and then a move up to 190 after 180. Tough to say because no one can guess earnings, you can get close but its very speculative. We will see- looking at 180 in the next two-three weeks. Look at the bounce off the 50 MA and the accumulation indicator rising in a sideways consolidation.
Note
Technical Analysis is nothing without fundamental analysis. Vice Versa... closed call positions with over 100% gains. Looking at 182 -185 calls nextNote
Fire sale of the stock amid fears of weak iphone X sales ahead of earnings. Too much focus on the X while the other models have been the top sellers. Strong growth in Chinese markets as well. Too much centralized focus on the X, aapl is no longer a single-phone based company where every new model determines profitability. The 6, 7, and 8 models has diversified the revenue stream. I think its at a discount price for a buy
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