Novavax tried to fulfill more than 2 billion doses of vaccine, but the campaign is now delaying too much due to production lags. Is that a sell sign for investors?
How will Semiconductor Crisis affect Apple?
2021-10-13 • Updated
Apple may cut iPhone 13 production by 10 million units this year due to global chip shortages. The company expected to produce 90 million new iPhone models in the last three months of 2021, but the total volume will now be lower due to problems with the supply of sufficient parts from Broadcom and Texas.
How will It affect the stock price?
Investors are worried about a possible decrease in revenue from the sale of iPhones. The price has been sliding since the beginning of September and now Apple stock is trading around $140.
in fact, the company never posted high revenue in the third quarter. We will see the results in the sales failure only at the end of the fourth quarter of 2021.
Moreover, FAANG shares are under pressure due to the expected rise in US inflation. Taken together, these factors led to the decline in the stock, however, we do not believe this negative will last any longer.
Apple stock is trading in the rising channel. Now it is heading towards the bottom line. According to the RSI, bears are running out of power, so we believe a reversal might happen soon. The 200-day moving average is the strongest support and our first potential entry point. Also, the price can reverse out of $139 and draw a double bottom pattern. In this case, the best entry point will be as the price breaks through the high between two bottoms.
The Turkish lira has been pressed by Turkey’s central bank (CBRT). Analysts believe USD/TRY will reach 10.00 by the year's end.
One of the largest tech companies in the US will reveal its financial results for the third quarter already tonight after the market closing! Await the release at the midnight (GMT+3).
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