After 🍏$Apple (AAPL)$ reported earnings on 28 October 2022, 🍏AAPL stock rose ⬆️7.5% from $144.8 on 27 October 2022 to $155.74 on Friday. 🍏AAPL's September quarter earnings modestly beat expectations on 💰revenue and 💰profit and showed global demand for its premium hardware remains high. It was the best day for 🍏AAPL since April 2020. On that day, only one other technology stock -- $Intel (INTC)$ -- with stock price jump of +10.66% can beat 🍏AAPL share price's gain.
🍏AAPL grew sales by ⬆️8% during the September quarter, keeping its Covid pandemic quarterly growth streak alive. 🍏AAPL's Mac business grew 25% even as PC sales from other brands from around the world fell. 🍏AAPL's performance signaled that demand for premium computers and phones remains strong💪🏻.
🍏AAPL has proven✌🏻 to be a safe haven for investors seeking quality stocks to weather a potential recession as interest rates rise. The resilience in 🍏AAPL's quarter earnings was noteworthy because the company continues to grow sales even against tough macroeconomic factors like a strong 🇺🇸U.S. dollar, all while keeping its margins high.
Investors that bough 🍏AAPL shares below $144,8 and sold it on 28 October 2022 at $155.74 have donesome profit taking. 🍏AAPLmight slow down in the coming months due to the slow down in consumer spending. The potential of 🍏AAPL's services has not fully expanded. With the drop in companies' advertising expenditure, the 🍏AAPL services' paid subscribers base must stay strong to stay profitable.
🍏AAPL share price is now moving around $151.93 today. 🍏AAPL is now at resistance. zone with very limited upside pending the bearish pressure on stock market due to the interest rate hike to be announced on 2 November 2022.
Nonetheless, 🍏AAPL has proven to be a stock worthy of long term investment. It might settled to $140 region. after the interest rate hike is announced. Strongly recommend 'Buy' 🍏AAPL if it settled to below $140 and $130. There is definitely high chances that 🍏AAPL will rally again.
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