Novavax is Under Attack
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
What happened?
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.
Technical analysis
4H chart
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.
Similar
Earnings Overview: Tesla, Netflix, IBM, JNJ
Such big companies as Netflix, Tesla, and Johnson & Johnson have revealed their financial results for the third quarter.
Chinese Market Will Boost Tesla’s Earnings Report
What will happen? Tesla, Inc…
Latest news
USD/TRY May Hit 10.00 Before Year’s End
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.
Facebook: Earnings Preview
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).
Coinbase: Time to Believe in Crypto
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currencies…
Deposit with your local payment systems
