APPL – strong bid for UP despite negative news.

/Not a recommendation for trade and investment/

Foundation

News came out on Monday from research firm IDC that Apple Mac sales were down a rough 40.5% year over year to 4.1 million units.

However, Apple’s iPhone sales figures fell 3% year-on-year in February, improving from declines of 11% in January and 18% in December.

Sales figures turned positive in February in the US, in China and India, where growth was up a staggering 28%. – first positive month since October. – the trend may be maintained in the following quarters.

The offset was in Europe, where sales fell 23% to just 3.4 million units.

Overall, Apple CFO Luca Maestri said he expects March’s earnings performance to be similar to the December quarter.

Profits from services are expected to grow in the coming years, with macroeconomic headwinds in areas such as digital advertising and mobile gaming likely to persist. For iPhone, the revenue presentation is expected to accelerate from the December quarter earnings presentation. For Mac and iPad, revenue for both product categories is expected to decline by double-digits year-over-year due to macroeconomic headwinds.

Technical Analysis

• Retest of inverse H&S formation – strong request for UP.

• Rising wage breakout in an upward direction – strong bullish signal for stronger upward momentum.
• 65 and 200 SMA before Golden cross – start of uptrend.
• Volumes are moderate above average – no panic action = stable buying.

Bank Foundation

• 77% Buy rating
• Holding Buy forecasts for the last 4 months – Bullish
• Big names on the list with Buy ratings
• 12- monthly target price 170, with the most positive estimates reaching 195 – 205.

Revenues and profits

Revenue expectations remain stable, as do earnings expectations. – positive in the long term.

Short-term indicator

The price retraces Adjusted EPS on a daily basis, breaking above this value for the first time since the beginning of last year. – Bullish on price if it holds.
EPS may follow the move if financials improve.

Conclusion

Technically and fundamentally, APPL is making strong calls for upside from current levels. With a better Q1 report, the movement could accelerate.

Alternative scenario

A break below 147 could signal further decline or continuation of trading in a wide range. Stop loss zone below 147.