Apple announced it had started the transition towards building its first cellular modem for use in its devices, sending shares of Qualcomm down during pre-market trading Friday.
In 2019, Apple made a $1 billion acquisition of Intel's modem business – which helps the iPhone maker to develop its own cellular modems. Apple did not specify when the modem would be ready to be installed in products.
Currently, the latest iPhones with 5G use parts sourced from Qualcomm.
Earlier this week, some reports suggested that Apple is planning to introduce its latest in-house microchips as early as spring 2021.
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 263 cases, the price declined further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on February 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on AAPL as a result. In of 68 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for AAPL turned negative on January 31, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at .
AAPL moved below its 50-day moving average on January 30, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for AAPL crossed bearishly below the 50-day moving average on February 05, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The RSI Indicator entered the oversold zone -- be on the watch for AAPL's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AAPL advanced for three days, in of 342 cases, the price rose further within the following month. The odds of a continued upward trend are .
AAPL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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 89, 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 PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. AAPL’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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 (36.496) is normal, around the industry mean (75.130). P/E Ratio (27.232) is within average values for comparable stocks, (42.839). Projected Growth (PEG Ratio) (2.155) is also within normal values, averaging (1.954). AAPL has a moderately low Dividend Yield (0.005) as compared to the industry average of (0.024). P/S Ratio (7.138) is also within normal values, averaging (69.372).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of mobile communication, media devices, personal computers, and portable digital music players
A.I.dvisor indicates that over the last year, AAPL has been loosely correlated with SONY. These tickers have moved in lockstep 39% 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.