This week AMD, Amazon, and Apple will release their earnings reports. These tech giants will determine the future of the US stock market!
Apple & Tesla Stocks Overview
2022-12-15 • Updated
Apple stock grew by 2.75% during the trading session on August 30. It reached $153.48, which is an all-time high. Additionally, the Cupertino tech giant's market capitalization, which is calculated as multiplying the stock price with the number of outstanding shares, reached $2.53 trillion.
The Apple rally was caused by the news that the new iPhone 13 lineup will support satellite communications. It also comes days after Apple announced a settlement with developers that included new App Store policies, such as loosened rules on app makers communicating directly with their users.
Analysts expect Apple to present news iPhone 13 and Apple Watch 7 at the end of September.
The closest resistance for Apple stock is in the $157-158 range (where the price will meet the blue line which connects two previous highs). According to the Fibonacci expansion, the first target for this move is $170. The support level is $145.
The Tesla TSLA Model 3 is the fastest-selling electric car in Western Europe thanks in part to its strong range claims.
Tesla stock broke through $727 resistance and heading towards $770 now. On the way, it will meet $745 resistance, but it is doubtful it will create a big problem. As soon as the stock breaks through the $770 level it will be pumped to $800.
Support levels are $727 and $713.
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Tesla, Netflix and Goldman Sachs will publish their earnings reports these week. Here is why you should follow.
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