Apple APPL Earnings - Buy the Rumour Sell the News

Companies / Apple Feb 06, 2023 - 10:44 PM GMT

APPLE - 141 EGF 5%, ,EGF12M 6%. PE 23.1

The Apple stock is weak, targeting the bottom of it's current range at $120, which if breached would then target around $106. However as the graph illustrates that whilst Apple is not cheap at X23.1, the fact that Apple is engaged in huge buy backs as illustrated by Share dilution at 80% shows that the stock gets cheaper over time even if the stock price goes nowhere, and hence acts as support under the stock price. Apple has positive EGF's courtesy of the buy backs so the stock price whilst weak is unlikely to experience a waterfall moment, instead most probable is that the stock price will continue to trade within a range for some time. I am currently 25% invested and will continue to accumulate Apple on fresh lows, i.e. sub $120, and maybe some light buying sub $128. The bottom line is that if there is one stock that could trade at NEW bear market lows then that stock is Apple.

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By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

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