Apple Inc (NASDAQ:AAPL)
Apple Stock Q1 Earnings Results
On Tuesday after the close, shares of Apple stock ($AAPL) got a nice pop after the company announce first quarter results. The company announced adjusted earnings per share of $3.38 on $78.35 billion in revenue while analysts were expecting $77.3 billion in revenue.
They sold 78.3 million iPhone units this quarter which also be expectations that were set at 77 million. Currently analysts have an average price target of $133.07.
AAPL Technicals
Apple stock rallied in the post-market session following their strong quarter with prices reaching current highs of $127.10 after closing Tuesday at $121.35 marking a 4.7% jump in value. Shares haven’t traded at these prices since back in mid 2015.
Looking back on the daily chart there are some key pivot levels we will want to keep an eye on. The first one comes in at $128 with major resistance coming in at the $132 level. We should see some support come in at $124 and the $122.25 area.
Shares are well above their 200-day moving average that is currently sitting at $107.30. If you’re looking to trade Apple stock today, look for it to be extra volatile as a lot of traders will be looking to take part in the action.
CEO Comments
“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said Tim Cook, Apple’s CEO. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”
Company Profile
Apple, Inc. engages in the design, manufacture, and marketing of mobile communication, media devices, personal computers, and portable digital music players. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes both North and South America.
The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries not included in the reportable operating segments of the company.
The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.