APPLE Weekly Special Report based on 1.00 Lot Calculation:
APPLE:
● Apple is the most valuable company in the world and the first company ever to reach a market capitalization of 3 trillion dollars, which is almost equal to the Indian GDP of $3.5 trillion (the 5th largest economy in the world by GDP).
● PRODUCTS: iPhone (smartphones), iPad, Apple Watch, Mac and Apple TV.
SMARTPHONE MARKET SHARE:
1. Apple (iPhone): 30.44%
2. Samsung: 26.10%
3. Xiaomi: 11.72%
4. Huawei: 4.12%
5. Others: 27.62%
Source: GS Statcounter
SERVICES: Music, movies, TV shows, stickers and App purchases.
NEWS AND EVENTS
● APPLE AND AI - M3 MACBOOK AIR RELEASE: Apple released the new 13 and 15-inch MacBook Air with the powerful M3 chip. The company is advertising its hardware as an AI-running machine, boasting that the new MacBook is the “world’s best consumer laptop for AI.” With M3, MacBook Air is up to 60 percent faster than the model with the M1 chip and up to 13x faster than the fastest Intel-based MacBook Air. This is the first time the company has concretely tied its hardware with AI which indicates Apple's first step into the AI field.
APPLE: TECHNICAL REVIEW
● Apple stock has tested the $170 support level twice over the past 12 months after which it had rebounded towards the $200 resistance level. It is yet again testing this 12-month support level of $170 which could see a reversal back towards $200 which could give a ~18% potential upside. Although the price could also go down.
Please note that past performance does not guarantee future results
Source: MT4 Platform
● ANALYST OPINION: Wedbush forecasts $250. Goldman Sachs forecasts $232. Citigroup forecasts $225. Wells Fargo forecasts $225. JPMorgan forecasts $215.
● If Wedbush’s target of $250 is realised, that would present a potential upside of 47%. Although the price could still go down.
#APPLE, March 11, 2024
Current Price: 170.00
|
Apple |
Weekly |
|
Trend direction |
|
|
250.00 |
|
|
200.00 |
|
|
185.00 |
|
|
156.00 |
|
|
150.00 |
|
|
145.00 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
|
||||||
|
Profit or loss in $ |
8,000.00 |
3,000.00 |
1,500.00 |
-1,400.00 |
-2,000.00 |
-2,500.00 |
|
Profit or loss in €² |
7,313.22 |
2,742.46 |
1,371.23 |
-1,279.81 |
-1,828.30 |
-2,285.38 |
|
Profit or loss in £² |
6,228.54 |
2,335.70 |
1,167.85 |
-1,089.99 |
-1,557.14 |
-1,946.42 |
|
Profit or loss in C$² |
10,783.76 |
4,043.91 |
2,021.96 |
-1,887.16 |
-2,695.94 |
-3,369.93 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 11:50 (GMT) 11/03/2024
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