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athyojin
2021-04-30

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Why Isn't Apple Hitting New Highs After a Record Quarter?

Apple is trading close to flat despite a freakishly good earnings report. Let's look at the key it m

Why Isn't Apple Hitting New Highs After a Record Quarter?

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Let's look at the key it m","content":"<p>Apple is trading close to flat despite a freakishly good earnings report. Let's look at the key it must clear on the chart.</p>\n<p>Apple&nbsp;just reported a blowout quarter and the stock was flat on Thursday. The action is quite disappointing, to say the least.</p>\n<p>Of course, Apple could turn things around later in the day and before the end of the week. But to see such a meek response in the stock afters&nbsp;uch an impressive quarteris a letdown for longs.</p>\n<p>The company reported earnings of $1.40 a share, more than 40% ahead of consensus estimates. Revenue of $89.6 billion blew by estimates by more than $12.3 billion.</p>\n<p>The top- and bottom-line results even smashed the highest expectations on Wall Street. Each category did quite well too, while Apple&nbsp;tacked on $90 billion&nbsp;to its buyback program.</p>\n<p>Facebookand Qualcommwere also enjoying some&nbsp;nice post-earnings gains on the day, so it’s not as if Apple doesn’t have tailwinds working in its favor.</p>\n<p>What’s going on with the stock?</p>\n<p><b>Trading Apple</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f6b6b83286442b7ad4dc84fa9196648c\" tg-width=\"1240\" tg-height=\"733\" referrerpolicy=\"no-referrer\"><span>Daily chart of Apple stock.</span></p>\n<p>I could understand Thursday’s lackluster reaction if Apple had rallied hard into the print. But that’s not the case. Let’s not forget that the stock has been consolidating now for eight months.</p>\n<p>Apple topped out near $138 in early September as the stock was splitting and has been consolidating since.</p>\n<p>On the plus side, the trend has been higher as there is a series of higher lows. On the downside though, it hasn’t been able to crack the $138 level, save for a few sessions in January ahead of earnings.</p>\n<p>Notably, the company also crushed earnings expectations last quarter, but saw its breakout fail as Apple stock dipped back below $138.</p>\n<p>Despite an even better report this time, we’re still seeing a lousy response.</p>\n<p>While Apple is holding the 10-day moving average, it’s hard to be overly bullish on the technicals (despite&nbsp;overwhelmingly bullish fundamentals) until the stock clears $138.</p>\n<p>If it can clear $138, then the all-time high near $145 is in play. Above that and $150-plus is on the table, including the 161.8% extension near $160.</p>\n<p>If it can't take out resistance, I expect the downside to be relatively muted. At least in the short term. The largest pullback one might expect is down to the 200-day moving average and uptrend support (blue line). That's obviously subject to change, but given the current market environment, I am not looking for a collapse in Apple's share price.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Isn't Apple Hitting New Highs After a Record Quarter?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Isn't Apple Hitting New Highs After a Record Quarter?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 09:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/apple-aapl-stock-record-earnings-trading-042921><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple is trading close to flat despite a freakishly good earnings report. Let's look at the key it must clear on the chart.\nApple just reported a blowout quarter and the stock was flat on Thursday. ...</p>\n\n<a href=\"https://www.thestreet.com/investing/apple-aapl-stock-record-earnings-trading-042921\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/investing/apple-aapl-stock-record-earnings-trading-042921","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197104267","content_text":"Apple is trading close to flat despite a freakishly good earnings report. Let's look at the key it must clear on the chart.\nApple just reported a blowout quarter and the stock was flat on Thursday. The action is quite disappointing, to say the least.\nOf course, Apple could turn things around later in the day and before the end of the week. But to see such a meek response in the stock afters uch an impressive quarteris a letdown for longs.\nThe company reported earnings of $1.40 a share, more than 40% ahead of consensus estimates. Revenue of $89.6 billion blew by estimates by more than $12.3 billion.\nThe top- and bottom-line results even smashed the highest expectations on Wall Street. Each category did quite well too, while Apple tacked on $90 billion to its buyback program.\nFacebookand Qualcommwere also enjoying some nice post-earnings gains on the day, so it’s not as if Apple doesn’t have tailwinds working in its favor.\nWhat’s going on with the stock?\nTrading Apple\nDaily chart of Apple stock.\nI could understand Thursday’s lackluster reaction if Apple had rallied hard into the print. But that’s not the case. Let’s not forget that the stock has been consolidating now for eight months.\nApple topped out near $138 in early September as the stock was splitting and has been consolidating since.\nOn the plus side, the trend has been higher as there is a series of higher lows. On the downside though, it hasn’t been able to crack the $138 level, save for a few sessions in January ahead of earnings.\nNotably, the company also crushed earnings expectations last quarter, but saw its breakout fail as Apple stock dipped back below $138.\nDespite an even better report this time, we’re still seeing a lousy response.\nWhile Apple is holding the 10-day moving average, it’s hard to be overly bullish on the technicals (despite overwhelmingly bullish fundamentals) until the stock clears $138.\nIf it can clear $138, then the all-time high near $145 is in play. Above that and $150-plus is on the table, including the 161.8% extension near $160.\nIf it can't take out resistance, I expect the downside to be relatively muted. At least in the short term. The largest pullback one might expect is down to the 200-day moving average and uptrend support (blue line). That's obviously subject to change, but given the current market environment, I am not looking for a collapse in Apple's share price.","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}