• Apple's Minor Cycle Correction Signals Cautious Outlook

  • Nov 13 2024
  • Length: 2 mins
  • Podcast

Apple's Minor Cycle Correction Signals Cautious Outlook

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  • Summary

  • **Apple (AAPL) Analysis:**

    1. **Current Price and Intraday Range:**
    - Current Price: $224.23
    - Intraday Range: $223.35 - $225.59[4][5]

    2. **Pre-market and After-hours Movement:**
    - No significant pre-market or after-hours movements reported in the last 24 hours.

    3. **Trading Volume vs Average:**
    - Volume: 40.4 million
    - Average volume not provided in the sources, but 33.88 million was reported in another source, suggesting a slightly higher volume[2][4]

    4. **Recent News or Announcements:**
    - No major news or announcements in the last 24 hours.

    5. **Major Analyst Updates or Price Target Changes:**
    - No recent analyst updates or price target changes reported in the sources.

    6. **Options Flow Activity:**
    - No specific options flow activity reported in the sources.

    7. **Related Semiconductor/AI Sector News:**
    - No related news affecting Apple reported in the sources.

    8. **Key Technical Indicators for Day Trading:**
    - 60-Month Beta: 1.24
    - Price/Sales: 8.77
    - Price/Cash Flow: 29.72
    - Price/Book: 60.24
    - Price/Earnings ttm: 33.62
    - Earnings Per Share ttm: 6.75
    - Recent Earnings: $1.64 on 10/31/24
    - Next Earnings Date: N/A[1]

    **Market Sentiment:**
    - The stock has decreased by -0.30% in the past 24 hours, indicating a slight bearish sentiment[3].
    - Technical analysis suggests a minor cycle correction is inevitable after five consecutive bullish breaks and retests of the previous all-time high[3].

    **Conclusion:**
    Apple's stock is currently at $224.23 with a slight decrease in the past 24 hours. The intraday range indicates a stable trading session. There are no significant pre-market or after-hours movements, and no recent news or analyst updates. Technical indicators suggest a potential minor correction, and the market sentiment leans slightly bearish.
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