- Apple shares ended Friday with a small loss of 0.29%.
- AAPL takes a back seat to earnings volatility from Amazon and Facebook.
- Apple shares remain poised near all-time highs.
Apple (AAPL) took a back seat in the big tech earnings space last week as it had gotten out of the blocks a week earlier. Apple produced strong results that looked to have saved the equity market. When Google added to Apple's performance it looked like markets were set to turn around the bearish start to the year and push to new highs. However, things got a little wild as the week progressed. Facebook parent Meta Platforms (FB) collapsed after earnings in the largest market cap loss in US history. Investors quickly dumped tech stocks only to have to chase them back higher once Amazon-produced strong earnings. Amazon then produced the largest single-day market cap gain in history, according to Deutsche Bank. Basically, volatility was the theme of the week.
Apple Stock News
Rumors are flying around about Apple potentially bidding for Peloton (PTON). We do not quite get the symmetries or why Apple would be interested in the space. Yes, the Apple watch is also a fitness device, but Apple likes to design its own products from the bottom up with that sleek Apple feel and touch. We just don't see it, but we may be wrong.
Bloomberg reported late last week that Apple was planning on launching a low-cost version of the iPhone and iPad, according to sources. March 8 is the rumored launch date for the new products. CNBC reports the new iPad is an updated version of the iPad Air.
Apple Stock News
Support at $157 was strongly defended once Apple dropped strong earnings numbers. This remains the support and key pivot. A break will likely see AAPL down to $138. Resistance is at the all-time highs from here, but the move is losing power as evidenced by the still declining Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD).
Apple (AAPL) chart, daily
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD resumes slide below 1.0500
EUR/USD gained modest upward traction ahead of Wall Street's opening but resumed its slide afterwards. The pair is under pressure in the American session and poised to close the week with losses near its weekly low at 1.0452.
GBP/USD nears 1.2600 as the US Dollar regains its poise
Disappointing macroeconomic data releases from the UK put pressure on the British Pound, yet financial markets are all about the US Dollar ahead of the weekly close. Demand for the Greenback increased in the American session, pushing GBP/USD towards 1.2600.
Gold pierces $2,660, upside remains capped
Gold (XAU/USD) puts pressure on daily lows and trades below $2,660 on Friday’s early American session. The US Dollar (USD) reclaims its leadership ahead of the weekly close, helped by rising US Treasury yields.
Broadcom is the newest trillion-dollar company Premium
Broadcom (AVGO) stock surged more than 21% on Friday morning after management estimated on Thursday’s earnings call that the market for customized AI accelerators might reach $90 billion in fiscal year 2027.
Can markets keep conquering record highs?
Equity markets are charging to new record highs, with the S&P 500 up 28% year-to-date and the NASDAQ Composite crossing the key 20,000 mark, up 34% this year. The rally is underpinned by a potent mix of drivers.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.