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The portable device sector, encompassing companies involved in the production and sale of portable devices, witnessed a notable performance surge of +8.63% over the past week. This surge was led by prominent players including Apple (AAPL), CEVA, and Generac Holdings (GNRC). Despite this recent uptick, however, the sector currently faces a negative outlook, as indicated by various technical indicators and market sentiment analyses.
Group Tickers:
Technical Indicators and Market Sentiment: The MA50MA10 Indicator reflects a Negative Outlook for stocks in the portable device sector. Additionally, the Stock Fear & Greed Index suggests a cautious sentiment among investors. Tickeron predicts a further decline of more than 4.00% within the next month for this group, with an 80% likelihood, based on recent trends and market analysis. The daily ratio of advancing to declining volumes over the last month stands at 1.03 to 1, further indicating a mixed sentiment among traders.
Market Capitalization: The average market capitalization within the portable theme is approximately $989.6 billion. Tickers in the group range from a market cap of $420.3 million to $3 trillion, with Apple (AAPL) holding the highest valuation at $3 trillion and the lowest valuation belonging to LMRK at $420.3 million.
Price Movement: While the average weekly price growth for the portable theme stocks was 8.62%, the average monthly and quarterly growth rates were 1.71% and 8.19%, respectively. CEVA experienced the highest weekly price growth at 14.86%, while Apple (AAPL) witnessed a decline of 1.74% over the same period.
Volume: Weekly volume growth across portable theme stocks averaged -55.05%. Monthly and quarterly volume growth rates were also negative, standing at -2.99% and -12.36%, respectively. Record-breaking volume surges were observed for individual stocks, such as Generac Holdings (GNRC) and CEVA.
Stock-specific Analysis:
AAPL:
CEVA:
GNRC:
Conclusion: While the portable device sector has experienced recent volatility and mixed performance, individual stocks within the theme present unique opportunities and challenges for investors. Traders should consider technical indicators, market sentiment, and company-specific factors when formulating their investment strategies in this dynamic sector.
The Moving Average Convergence Divergence (MACD) for AAPL turned positive on April 25, 2024. Looking at past instances where AAPL's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 47 cases where AAPL's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that 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 327 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved below the 0 level on April 25, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on AAPL as a result. In of 69 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AAPL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
AAPL broke above its upper Bollinger Band on April 11, 2024. 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 Aroon Indicator for AAPL entered a downward trend on April 25, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating steady 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 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 Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly 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 (35.461) is normal, around the industry mean (77.054). P/E Ratio (26.429) is within average values for comparable stocks, (44.654). Projected Growth (PEG Ratio) (2.092) is also within normal values, averaging (1.742). AAPL has a moderately low Dividend Yield (0.006) as compared to the industry average of (0.025). P/S Ratio (6.925) is also within normal values, averaging (65.367).
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
Industry ElectronicsAppliances