Time To Sell Apple?

Time To Sell Apple?

2022-01-27 • Updated

Apple, your favorite phone maker and one of the biggest tech companies, which capitalization has recently reached $3 trillion, will post its earnings today at 23:30 GMT+2.

Forecasts:

EPS - $1.90

Revenue - $90.6 billion

The start of the year wasn't easy for Apple. The company has been coming through many logistical challenges. Due to that, the company reported that logistical problems resulted in $6 billion of lost revenue in fiscal Q4. Another factor that adds pressure to Apple is the global chip shortage that is expected to continue adding pressure to the company's performance. As a result, analysts forecast the company's revenue of $90.6 billion, which is only 1% year-over-year growth from the company's $89.6 billion revenue in the second quarter of fiscal 2021. Of course, if the supply issues have eased, the revenue outlook will be far better.

Apart from EPS and revenue, traders will be looking at the guidance for Q2, where they will find out the current situation around the supply-chain issues and management's vision on the solution of the problem.

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The stock of Apple was affected by the broad-based selloff of the tech stock that started at the beginning of the year. The tech-heavy NASDAQ has fallen more than 17% within just a month in anticipation of a monetary policy tightening. At the same time, the stock of Apple has been down 15%. On the daily chart, you can see the head and shoulders pattern. The 100-period SMA stopped a further downside at $157. A break below this level will trigger a further fall to $148 (200-period SMA).

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