APPLE Weekly Special Report based on 1.00 Lot Calculation:
APPLE:
● APPLE is the second 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). Its current market capitalization stands at $2.91 trillion. It is also one of the most recognisable brands in the world.
● PRODUCTS: iPhone (smartphones), iPad, Apple Watch, Mac and Apple TV.
NEWS AND EVENTS
● WORLDWIDE DEVELOPERS CONFERENCE 2024 (WWDC) (JUNE 10 – 14, 2024): ARTIFICIAL INTELLIGENCE EVENT. Apple is set to reveal Project Greymatter, a set of AI tools that Apple will be incorporating into its core apps, such as Safari, Photos, and Notes. Apple will also be announcing its partnership with OpenAI to bring ChatGPT into iOS 18. Privacy measures will ensure that even cloud-processed AI features maintain strong data security. This event is expected to be Apple’s official entry into the AI space and will be widely watched by markets and could potentially benefit Apple’s stock price.
● 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’S CHINA IPHONE SHIPMENTS JUMP 52% (MAY 28): New figures from the China Academy of Information and Communications Technology showed a surge in smartphone shipments in China. Roughly 3.5 million units came from foreign brands, according to a Bloomberg calculation. The iPhone accounted for the vast majority of such devices, and its bounceback comes after it registered growth in March following steep declines in the first two months of the year. MARKET REACTION (PREMARKET): +2.40% (Source: Bloomberg)
● ANALYST OPINION: Wedbush forecasts $275. Goldman Sachs forecasts $226. Wells Fargo forecasts $225. JPMorgan forecasts $225.
●STOCK PRICE ACTION: If Wedbush’s target of $275 is realised, that would present a potential upside of ~46%. Although the price could still go down.
#APPLE, May 29, 2024
Current Price: 189.00
|
Apple |
Weekly |
|
Trend direction |
|
|
275.00 |
|
|
250.00 |
|
|
204.00 |
|
|
174.00 |
|
|
172.00 |
|
|
170.00 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
|
||||||
|
Profit or loss in $ |
8,600.00 |
6,100.00 |
1,500.00 |
-1,500.00 |
-1,700.00 |
-1,900.00 |
|
Profit or loss in €² |
7,934.38 |
5,627.88 |
1,383.90 |
-1,383.90 |
-1,568.42 |
-1,752.95 |
|
Profit or loss in £² |
6,738.25 |
4,779.46 |
1,175.28 |
-1,175.28 |
-1,331.98 |
-1,488.68 |
|
Profit or loss in C$² |
11,744.59 |
8,330.47 |
2,048.48 |
-2,048.48 |
-2,321.61 |
-2,594.74 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 09:20 (GMT+1) 29/05/2024
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