20-May-2024
Microsoft Takes the Lead in AI-Powered PCs
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Microsoft To Unveil New Surface Devices At Redmond Event
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AAPL Bullish Calendar Call Spread Looks Cheap at 48 Cents
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Benzinga (Mon, 20-May 10:04 AM ET)
Apple COO visits Taiwan Semiconductor to secure advanced tech for AI chips: report
Seeking Alpha News (Mon, 20-May 9:23 AM ET)
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Apple trades on the NASDAQ stock market under the symbol AAPL.
As of May 20, 2024, AAPL stock price climbed to $191.04 with 36,644,437 million shares trading.
AAPL has a beta of 1.17, meaning it tends to be more sensitive to market movements. AAPL has a correlation of 0.38 to the broad based SPY ETF.
AAPL has a market cap of $2.95 trillion. This is considered a Mega Cap stock.
Last quarter Apple reported $91 billion in Revenue and $1.53 earnings per share. This beat revenue expectation by $743 million and exceeded earnings estimates by $.03.
In the last 3 years, AAPL stock traded as high as $199.62 and as low as $122.86.
The top ETF exchange traded funds that AAPL belongs to (by Net Assets): RAYD, STNC, VTI, VOO, SPY.
AAPL has underperformed the market in the last year with a return of +11.2%, while the SPY ETF gained +29.3%. In the last 3 month period, AAPL fell short of the market, returning +4.9%, while SPY returned +6.4%. However, in the most recent 2 weeks AAPL has outperformed the stock market by returning +4.3%, while SPY returned +3.7%.
AAPL support price is $187.62 and resistance is $192.12 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AAPL stock will trade within this expected range on the day.