Apple - what's behind the pre-ER dip?
Updated
Apple will do their Q4 earnings call after-hours tomorrow (2018/02/01), in a week where a lot of other big cap tech companies have done the same. This ER may give you some reasons to worry...
After hitting a new ATH at $180, AAPL has retraced back to about $166. Fairly normal stuff, especially after rumors of iPhone X sales doing poorly, and Apple subsequently cutting back production. The last 2 days saw the price stabilize somewhat. However, whether this was a dead cat bounce before the bearish continuation or a trend reversal isn't too clear.
So, with that in mind, Apple has quite a lot riding on this ER. This week saw FB and AMD dip significantly in after-hours trading on their respective ER days, only to spring back even higher, after earnings beats. PYPL is another story...
For AAPL, a poor response to the ER could take us back to $155, while a good one will take us back and likely beyond $180. Check back in after ER for updates.
After hitting a new ATH at $180, AAPL has retraced back to about $166. Fairly normal stuff, especially after rumors of iPhone X sales doing poorly, and Apple subsequently cutting back production. The last 2 days saw the price stabilize somewhat. However, whether this was a dead cat bounce before the bearish continuation or a trend reversal isn't too clear.
So, with that in mind, Apple has quite a lot riding on this ER. This week saw FB and AMD dip significantly in after-hours trading on their respective ER days, only to spring back even higher, after earnings beats. PYPL is another story...
For AAPL, a poor response to the ER could take us back to $155, while a good one will take us back and likely beyond $180. Check back in after ER for updates.
Trade active
We have a winner! A (slim) earnings beat sees AAPL rise to $173.5 in after hours. Expect new highs as early as next week!Note
Spoke too soonNote
Hit 155 and bounced back but we've yet to see whether 155 support will hold or not.Note
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