On Thursday, Apple received an upgrade to its Investor’s Business Daily (IBD) Relative Strength Rating, from 67 to 74. The Cuppertino Colossus reportedly plans to boost iPhone production to 90 million units for 2021, up from 75 million in 2020.
This unique rating identifies technical performance by showing how a stock’s price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they launch their largest climbs.
In terms of fundamental health, Apple has posted rising EPS growth over the last two quarters. Revenue growth has also increased over the same time frame. Apple stock holds the No. 1 rank among its peers in the Telecom-Consumer Products industry group.
MacDailyNews Note: Apple will report their fiscal 2021 third quarter results on Tuesday, July 27, 2021 right after market close.
As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT. Just check our homepage on that date at that time.
The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT.
Listen to the conference call live here: apple.com/investor/earnings-call
As usual, MacDailyNews will cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.