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Should you buy Apple in 2021?
2021-01-20 • Updated
The Silicon Valley giant has become much more than just a mobile-device manufacturer. In the fourth quarter of the last year, Apple reported record revenue due to the progress in its services such as Apple TV, iTunes, and its App Store. Services represented nearly the fifth part of the total revenue in 2020 – up 16% from 2019. For comparison, look at the picture below. This is a crucial trend for Apple as it has a higher margin since services don't involve manufacturing and supply costs. Therefore, while customers are enjoying new devices, investors should pay attention to Apple’s approach to services.
Good news that now it is the time of earnings season! Apple will publish its economic results on January 28 at 00:00 MT time. As always, if the readings are better than expected, everyone will buy the stock of the reporting company and the price of this stock will go up. On the contrary, if the figures disappoint, the price will go down. Remember that FBS traders can make both buy and sell trades while trading stock CFDs. Thus, traders have a chance to profit in case of either outcome.
Technical analysis
Apple has paused after rallying for so long. The downside is limited by the strong support of $126.50, which the stock has failed to cross several times in December and January. Therefore, we would expect it won’t break through this level this time again. The overall risk-on sentiment on the market should drive Apple above $130.00. If it does, the way up to the high of January 8 at $132.00 will be open.
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