Investors Interested as Apple AAPL Shares Rise
The recent update by the Bank of America showed Apple’s stocks have risen by a staggering 3 percent, sparking interest in many investors. The positive trend of Apple shows there is definitely a chance you can make some good returns out of investing in Apple as of 2019.
Wamsi Mohan at the Bank of America upgraded the stock status from neutral to buy along with increasing Apple’s price target from $180 to $210 per share. The increase in share price shows Apple is quickly bouncing back. Wamsi commented on how this improvement was due to the company’s efforts in healthcare as well as increasing penetration into the market. The analyst also gave credit to Apple’s stability in supply chain orders that has managed to get the company to where it stands. The 21 percent increase since last Friday is quite an achievement.
Summary
Apple’s share priced increased by 3.46 percent to become $179 on Monday. This increase allowed investors to view the company from another angle. The company had been suffering from backlash as investors believed Apple needed to grow out of the iPhone and develop a new product. The company’s revenue stream plummeted last quarter which made Apple review its workings. The big plummet also awoke Wall Street officials who had believed the company’s profits would increase.
The reason behind low investor confidence is due to China’s economic slowdown that seems to be converging now rather than increasing. The heavy reliance on China has led Apple to walk on thin ice. However, Apple improved the situation by giving more offerings to its investors to try to mitigate the effects of the slowdown. The move is part of larger game at play by Apple that aims to drop the Apple Pay bomb which could shake up the banking industry.
The term that investors normally apply to the situation is the candlestick effect. This shows that the price of the shares normally starts out small and then closes higher than the opening. The past 10 bars showed 6 white candles and 4 black ones. The whole scenario might be a scheme to lure more investors to the company however, as of now, investors are more inclined towards purchasing more shares.
Nonetheless, AAPL is currently 6.2 percent but its 200 period moving average is slowly rising. The positive signs might be a recipe for disaster but till we find out, looks like investors can enjoy some increase in shares.