Anticipation of Apple (AAPL, $189.73) deal makes Roku (ROKU, $68.56) shares surge
Shares of the digital media player manufacturer, Roku, surged more than 7% on Monday after speculation of a potential deal with Apple hit the market.
The reason behind this speculation was presence of Roku’s CEO Anthony Wood at Apple’s Cupertino campus on Monday, where Apple is expected to unveil its new streaming TV service. On the face of it, it may seem like Roku is in competition with Apple, who is likely to introduce smart TVs and other devices in the market which is likely to allow users to stream over-the-top content. But the presence of Roku’s CEO at the event suggests that both the companies are likely to work together to stay ahead of the curve.
According to the WSJ, Apple has been in talks with Roku and other platforms about hosting its TV app and the announcement of this arrangement is likely to happen on Monday.
Shares of Roku have risen ~114% from last year and with this jump, the company added ~$500 million to its market value, making it now worth $7.5 billion.
AAPL in -0.98% downward trend, declining for three consecutive days on June 07, 2023
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where AAPL declined for three days, in of 256 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for AAPL moved out of overbought territory on June 05, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 52 similar instances where the indicator moved out of overbought territory. In of the 52 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 63 cases where AAPL's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
AAPL broke above its upper Bollinger Band on June 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on AAPL as a result. In of 70 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for AAPL just turned positive on May 31, 2023. Looking at past instances where AAPL's MACD turned positive, the stock continued to rise in of 37 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AAPL advanced for three days, in of 338 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 414 cases where AAPL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. AAPL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (45.045) is normal, around the industry mean (70.693). P/E Ratio (30.120) is within average values for comparable stocks, (44.280). Projected Growth (PEG Ratio) (2.440) is also within normal values, averaging (2.108). AAPL has a moderately low Dividend Yield (0.005) as compared to the industry average of (0.027). P/S Ratio (7.407) is also within normal values, averaging (105.201).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a manufacturer of mobile communication, media devices, personal computers, and portable digital music players
Industry ElectronicsAppliances
AAPL and
Correlation & Price change
A.I.dvisor indicates that over the last year, AAPL has been loosely correlated with SONY. These tickers have moved in lockstep 62% of the time. This A.I.-generated data suggests there is some statistical probability that if AAPL jumps, then SONY could also see price increases.
| Ticker / NAME | Correlation To AAPL | 1D Price Change % | ||
|---|---|---|---|---|
| AAPL | 100% | -0.78% | ||
| SONY - AAPL | 62% Loosely correlated | -2.37% | ||
| GPRO - AAPL | 51% Loosely correlated | -0.92% | ||
| VUZI - AAPL | 47% Loosely correlated | N/A | ||
| VZIO - AAPL | 42% Loosely correlated | +4.41% | ||
| LPL - AAPL | 42% Loosely correlated | -0.93% | ||
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