A chart pattern known as a symmetrical triangle has formed in the chart of Apple Inc. (NASDAQ:AAPL). This occurs when a down trending resistance combines with an up-trending support line. If the stock breaks through either level, a big move is expected. Read more to learn how to take advantage of this trading opportunity.Apple Inc. (AAPL) designs a wide variety of consumer electronic devices, including smartphones, tablets, PCs, smartwatches, AirPods, and TV boxes, among others, with the iPhone making up the majority of total revenue. In addition, the company also offers a variety of services such as Apple Music, Apple TV+, and Apple Pay, among others.
The company saw continued momentum in its Services and segment and strong performance from iPhone, iPad, Mac and Wearables in the most recent quarter. However, manufacturing disruptions and silicon shortages are expected to have a negative effect in the next quarter. Growth in its Services segment is also expected to decline.
AAPL has a strong balance reflected by its $62.6 billion cash balance at the end of the most recent quarter. This compares favorably to its short-term debt of $15.6 billion and has led to a Quality Grade of B in our POWR Ratings system. Analysts expect earnings to rise 11.9% year-over-year in the current quarter and fall -5.7% in the following quarter.