China’s mobile phone demand seems to have been hit by a slowing economy and a saturated market.
According to data released Tuesday by the China Academy of Information and Communications Technology, mobile phone shipments in China plunged almost -20% year-over-year to 14.51 million in February. Smartphones in particular experienced a more than -20% decline in shipments, as revealed by the same study.
While the week-long Chinese New Year holiday could have player a part in weaker demand, what’s probably alarming this time is that 2019 is the worst February since atleast 2013 with regards to phone shipments in China. Factors like macroeconomic sluggishness, a saturated smartphone market and excess inventory could have contributed to the shipment decline in the nation, as indicated by China senior market analyst for IDC, Xi Wang, to CNBC.
The slowing of smartphone shipments in the world's second-largest economy could potentially impact major American or global makers of smartphones. Apple Inc. for example, suffered a nearly -27% year-on-year plunge in its Greater China revenue in the three months ending Dec. 29, 2018. Soon after, major retailers reportedly slashed iPhone prices in China, in a bid to boost demand.
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 .
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.
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 .
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).
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 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.
|SONY - AAPL|
|GPRO - AAPL|
|VUZI - AAPL|
|VZIO - AAPL|
|LPL - AAPL|