APPLE INC. - Apple’s bulls to show their strength before earnings - 02/02/2023 (GMT)

Shares in Apple Inc. (symbol ‘AAPL’) gained back in full the losses incurred in the last quarter of the year. The company’s earnings report for the fiscal quarter ending December 2022 is set to be released on Thursday 2nd of February, after market close. The consensus EPS for Q4 is $1,93 compared to Q4 2021’s $2,10. 

‘2022 was a hard year for the company since it lost more than 30% of its share value. The recent pump in the price might have put a smile on management’s face but they are not out of the woods just yet. The current ratio of the company (showing the ability to repay their short term liabilities) is at 0.88 where a good current ratio is above 1. This means the company is still short on assets (mostly cash flow) as of their last publication.’ said Antreas Themistokleous, an analyst at Exness ‘The payout ratio (percentage of the total earnings of the company paid out as dividends) is at 14,73% indicating that the company is looking forward to keeping most of their earnings for economic growth/strength which is a good sign for the overall performance of the company.’  On the technical side the price managed to break above the daily bearish trendline only to find resistance on the upper band of the Bollinger bands and the 100 day moving average. If the price manages to stay above its trendline in the following sessions with valid closures above the $145 price area of the 38.2% of the Fibonacci retracement level and the 100 day moving average it is possible to see a continuation to the upside with resistance levels around the $150 which is the psychological resistance of the round number and also the 50% of the daily Fibonacci retracement level.