“They note that trading charts show few price points where investors can expect clusters of buying to support Apple’s shares,” Campos and Gupta report. “For example, the stock’s medium-term momentum, based on its 50-day rate of acceleration, has been on a downward slope since March, but has not hit over-sold levels.”
Campos and Gupta report, “Apple has a chance to turn things around when it reports results for the December quarter on January 23… If Apple can substantially beat Wall Street’s subdued expectations, that would go a long way towards restoring confidence in the near term. It is not enough for Apple to just meet targets – that could cause shares to fall further in the short term, some analysts say.”
“Analysts on average estimate Apple’s fiscal first-quarter earnings per share at $13.41, down slightly from $13.87 in the year-earlier quarter. Revenue is seen up 18 percent at $54.7 billion, according to Thomson Reuters I/B/E/S,” Campos and Gupta report. “Wall Street estimates Apple sold between 47.5 million and 53 million iPhones, up considerably from the 26.9 million sold in the previous quarter, when the iPhone 5 had not made it to all markets. IPad sales are expected at 23 million to 25 million.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Lynn Weiler" for the heads up.]