These Reports Will Determine The Fate of The US Tech Sector
This week AMD, Amazon, and Apple will release their earnings reports. These tech giants will determine the future of the US stock market!
Electric Vehicle Stocks Forecast: Apple and Tesla
2021-10-25 • Updated
Nowadays, one of the main global problems is climate change. Many countries have already started taking action to cope with it. For example, the US intends to become carbon-free by 2050 by replacing petrol-driven cars with electric vehicles. Thus, many traders have added EV stocks such as Tesla and Apple to their investment portfolios. Should you do the same? Let’s discuss these stocks in detail and make a trading analysis.
Tesla
Tesla has recently announced its production and deliveries numbers for the third quarter. The automaker has produced approximately 238,000 vehicles and delivered over 240,000 vehicles. This data was higher than expected despite a global automotive semiconductor shortage. If Tesla continues performing at the current pace, the company is likely to exceed its target to grow vehicle delivery by 50% in 2021! Besides, investors eagerly await the earnings results for the third quarter on October 20 (preliminary data). The expectations are quite high, that’s why we might expect the Tesla stock price to rise even before the release.
Tech tips
The share price of Tesla Motors stock has been moving inside the ascending channel since mid-May of this year. If TSLA stock price manages to break above the $800 psychological mark, the way up to the next round number of $850 will be open. Support levels are the low of October 1 at $770 and the 50-day moving average of $730.
Apple
It’s not already a secret that Apple has started working on Apple Car – a self-driving electric vehicle with autonomous functions. There was news that Apple is going to make collaborations with other automakers to create a vehicle, but now there is information that the company is working on this project on its own.
Don’t be confused when you look at the chart of the Apple stock. It was among other tech stocks that experienced a huge sell-off after Facebook’s large outage. It’s just a short-term shock for the Apple stock which the company is likely to easily overcome.
The iPhone producer is going to reveal its financial results for the third quarter on October 28. Investors will likely be watching the update closely!
Tech tips
The AAPL stock is moving inside the ascending channel. Since it’s getting closer to the support line (lower one), we might expect the stock to reverse up. Besides, there is a 50-week moving average at $135 just below the current price, which is a strong obstacle that the stock can fail to cross. If the price manages to jump above the $150.00 psychological mark, it will rally up to the high of September 5 at $157.00.
Interested in trading in the stock market?
- Read our article with the best stocks to buy today!
- Follow our daily stock signals and stock trading strategies.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded a trading platform: the FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
- Open an account in FBS Trader or the MT5 account in your personal area.
- Start trading!
Similar
Three Earnings Reports to Move Markets This Week
Despite the positive outlook, the FBS analysts are cautious about buying the stock heading into earnings. The stock market has already experienced a significant run-up. Thus, a correction may happen this week!
How will the reporting season affect US indices?
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.
Latest news
The Battle for Oil. OPEC Strikes Back
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold is Rising Despite Inflation Returns
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Can the Chinese Economy Recover?
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
