Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News

Nvidia’s stock surges past $1,000 on strong Q1

News

Will mighty Microsoft build on its 2024 gains?

News

USD gains amid Fed rate cut speculations

News

Is the silver squeeze back?

News

Li Auto’s stock hits a speedbump on Q1 results

News

Gold closes week higher on rate cut speculations

Trends & Analysis
News

Nvidia’s stock surges past $1,000 on strong Q1

News

Will mighty Microsoft build on its 2024 gains?

News

USD gains amid Fed rate cut speculations

News

Is the silver squeeze back?

News

Li Auto’s stock hits a speedbump on Q1 results

News

Gold closes week higher on rate cut speculations

Asset Watch

Does a bad Apple make for a good investment?

Thursday, April 25, 2024

It’s been mostly bumps and bruises for Apple in 2024, as the iPhone maker struggles with saturated markets and foreign competition.
However, fundamental catalysts are creating a healthier outlook. Bank of America analyst Wamsi Mohan has a $225 price target and said investors should make a move if Apple slumps after its May 2 earnings release. He wrote:
“The company’s “rich catalyst path with defensive cash flows makes AAPL a top pick for 2024. We see catalysts including re-upping the capital return at earnings (May), Gen AI announcements at WWDC (June), the launch of new iPhones in the fall (iPhone 16), and reacceleration in gross profit dollar growth each quarter.”

With several bullish developments scheduled for the months ahead, Apple could outperform its Big Tech counterparts in the back half of 2024.
To play it, you should monitor Apple’s 100-week moving average. The key level provided support in June 2019 and during the COVID-19 sell-off in March 2020. And while plenty of technical damage has occurred on the daily chart, the long-term uptrend remains intact from a weekly perspective.
If Apple does struggle on May 2, the $157 area marks the highs set in September 2021, October 2022, and January 2023. Similarly, the 200-week MA is not that far behind near $153. Otherwise, buying any weakness in the days ahead could prove fruitful for the Apple bulls.
So, could Apple blossom in H2 2024, or does the risk still outweigh the reward?


Site by Pink Green
© ADSS 2024


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.