The Chart of the Day belongs to the technology company Apple (AAPL) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 24 the stock gained 30.01%.
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts. In addition, the company offers various services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers, wholesalers, retailers, and resellers. Apple Inc. was incorporated in 1977 and is headquartered in Cupertino, California.
Barchart Technical Indicators:
- 100% technical buy signals
- 36.61+Weighted Alpha
- 40.88% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 9 new highs and up 5.81% in the last month
- Relative Strength Index 70.59%
- Technical support level at $183.80
- Recently traded at $184.90 with 50 day moving average of $172.80
Fundamental Factors:
- Market Cap $2.91 trillion
- P/E 31.58
- Dividend yield .52%
- Revenue projected to grow 6.60% next year
- Earnings estimated to increase 9.90% next year and continue to compound at an annual rate of 7.96% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 21 strong buy, 9 buy, 11 hold and 3 sell opinions on the stock
- Analysts price targets are between $140 and $220 and yet despite all the strong buy and buy recommendations the consensus price target is $184 its current price
- The individual investors on Motley Fool voted 30,860 to 2,338 for the stock to beat the market with the more experienced investors voting 6,583 to 100 for the same result
- Value Line rates the stock an average rating of 3 yet has an 18 month price target of $210 - 15% higher than the current price
- CFRAs MarketScope rates it a 4 star buy with a 12 month price target of $190
- 2,620,000 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
