Trade Radar | Apple Event 2023 - Wonderlust!
Another Weekly Session with Loui, M+ Online Head of Research.
New products to be unveiled! Apple ( $Apple Inc. AAPL$ ) will be introducing its new generation of iPhone - the iPhone 15, but how well the market will receive on this will depend on the price point and the new functionality in the new iPhone.
Share price performance of Apple during and after 60 days. Based on our findings, on the event day, Apple’s share price is mixed, but if traders position themselves for 60 days, there is roughly a 70% chance to be on the positive side of trades. You may refer to the article for more information: Trading Insights | Get ready for the Apple Wonderlust Experience: Introducing the iPhone 15! How will the stock price respond?
Recent developments have been negative. However, according to the Wall Street Journal, China has been banning iPhone usage amongst government officials and state employees. You may refer to the article to understand further on the situation: Why is China banning officials and state employees from using iPhones?
Since the release of this news, Apple's share price has declined nearly 8%, wiping out nearly $190bn in market cap.
Competitor is upping the game. Moreover, the competitor - Huawei has introduced its Huawei P60 Mate Pro, which has 5G and satellite function, this might affect Apple’s market share in China.
Given these new developments in China, we are slightly neutral on Apple’s outlook and may limit the upside potential for now. What are your thoughts on this?
We are providing you with both sides of the coins in this article and you may start trading on M+ Global App.
| Stock Ticker | Name | Last Closing (USD) | 1-month Total Return (%) | 3-month Total Return (%) |
| $Apple Inc. AAPL$ | Apple Inc | 179.36 | 0.88 | -0.75 |
| ETF Ticker | Name | Last Closing (USD) | 1-month Total Return (%) | 3-month Total Return (%) |
| $Direxion Daily AAPL Bull 1.5X Shares AAPU$ | Direxion Daily AAPL Bull 1.5X Shares | 25.53 | 0.51 | -3.19 |
| $Direxion Shares ETF Trust Direxion Daily AAPL Bear 1X Shares AAPD$ | Direxion Daily AAPL Bear 1X Shares | 21.80 | -0.59 | 1.75 |
(Source: Bloomberg)
More about Loui:
Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.
He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.
More about the Trade Radar:
Trade Radar is a weekly-updated section, featuring Loui's latest insights into market trends and hot topics. Traders may find some trading inspiration from Loui's views.
More Insights from Loui:
· Trade Radar | Crude Oil Price on FIRE 2.0!
· Trade Radar | Is It Time to Buy or Sell Gold?
· Trade Radar | US Treasury Yield Hit New Highs Since 2007, What Is in for You?
· Trade Radar | Fitch Warns at Banks Downgrade! What Could You Do?
· Trade Radar | Crude Oil Price on FIRE!
· Trade Radar | Your Choice: "Laugh at The Bank" or "Laughing to The Bank"?
· Trade Radar | COIN Soars Over 50% in Less Than 3 Weeks: Are You Getting On Board?
· Trade Radar | Q3 2023 Market Outlook with Loui: Uncovering Gems In Economic Turbulence