Apple's most recent trend suggests a bearish bias. One trading opportunity on Apple is a Bear Call Spread using a strike $285.00 short call and a strike $292.50 long call offers a potential 9.17% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $285.00 by expiration. The full premium credit of $0.63 would be kept by the premium seller. The risk of $6.87 would be incurred if the stock rose above the $292.50 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Apple is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Apple is bearish.
The RSI indicator is at 45.07 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Apple
Dow Jones Futures 'Limit Down' Even As Fed Cuts Rates To 0%, Plans $700 Billion In QE; Covid-19 Cases Soar Amid Coronavirus Bear Market
Mon, 16 Mar 2020 09:56:59 +0000
Futures plunged even as the Fed slashed rates to zero and restarted QE amid the coronavirus bear market. As Covid-19 cases soar, Apple, Microsoft, Tesla, Nike are in focus.
Apple Shares Slump as Store Closures, Demand Hit Adds to Coronavirus Concerns
Mon, 16 Mar 2020 09:51:00 +0000
Apple will close all of its retail outlets outside of China for at least two weeks, adding to revenues pressures for the world's biggest tech company.
Samsung Urges all Employees to Work From Home ‘Where Possible’
Mon, 16 Mar 2020 08:49:38 +0000
(Bloomberg) — Samsung Electronics Co. “strongly advised” its employees to work from home in a memo on Monday, escalating its response to the coronavirus pandemic.The document, reviewed by Bloomberg News, sets out the company’s wide-ranging efforts to curb the spread of the virus while minimizing business disruption. Entrance to its facilities is now subject to a health screening, international travel has been restricted to only “mission-critical journeys” and there are Samsung task forces around the globe to track and implement the latest expert advice. The company has even sent care packages to some who are working from home or undergoing self-quarantine.The memo was confirmed by a Samsung representative.Samsung has had to suspend production at its Gumi factory in South Korea on three successive weekends due to discoveries of Covid-19 infections. The advice from the company is to work from home “where possible,” so it’s unlikely to be taken up by most workers involved in its manufacturing operations. Still, the company employs more than 300,000 people globally across 52 sales offices, 15 regional offices and dozens of research, design and development centers.The world’s largest maker of smartphones, displays and memory chips is stepping up control measures after infections rose in its home country of South Korea. Apple Inc. suppliers LG Display Co. and LG Innotek Co. briefly halted their production lines earlier this month after they reported infections. SK Hynix Inc. found the first Covid-19 case in its Icheon chip-manufacturing complex on Friday, though that had no impact on production, according to a spokesperson.Elsewhere in the tech industry, Apple, Alphabet Inc.’s Google, Microsoft Corp. and Facebook Inc. have all canceled plans for developer conferences that were set to take place in the coming months. Twitter Inc. has made working from home mandatory for those able to keep going remotely. It will also keep paying hourly-wage workers through the period of disruption caused by the coronavirus outbreak, in a move that’s been echoed across Silicon Valley.To contact the reporter on this story: Sohee Kim in Seoul at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Tencent’s Set for Fastest Growth Since 2018 After Outbreak
Mon, 16 Mar 2020 07:38:00 +0000
(Bloomberg) — Tencent Holdings Ltd. picked up millions of new gamers during the global coronavirus outbreak — yet that surge in mobile play may be slowing as the world’s No. 2 economy goes back to work.The quest for entertainment among millions confined to home translated into a big boost for Tencent’s marquee games, Honor of Kings and Peacekeeper Elite. That helped the company gain $25 billion of market value up to March 5, before a global market rout torpedoed the stock along with the rest of the market. WeChat operator Tencent is now expected to report its fastest pace of revenue growth since 2018 when it unveils fourth-quarter results on Wednesday, and investors will look for assurances it can sustain that pace of topline expansion.But the outlook may be less clear-cut than anticipated and any gains from the pandemic may prove short-lived. While the bread-and-butter Peacekeeper Elite showed strong growth in the first days of March, sales from other major games dwindled and overall revenue fell for the sixth straight week, according to Sensor Tower data. Tencent’s social and video ad businesses are also expected to take a hit this quarter when merchants and brands tighten their budgets. And any blow to China’s economy will of course pummel the consumer and marketing spending Tencent relies on.The Chinese social media giant had been outperforming arch-foe Alibaba Group Holding Ltd. till as recently as last Thursday, when optimism that Tencent would outshine its logistics-dependent rival dissipated in the face of a widening pandemic.Read more: Virus Outbreak Exposes $46 Billion Rift in China’s Tech IndustryWhat Bloomberg Intelligence SaysTencent’s sales fell for a sixth consecutive week, declining 3% sequentially. Peacekeeper Elite’s 12% gain failed to offset Honour of Kings’ 34% tumble. NetEase’s overseas sales surged 41% after its prior 55% gain, driven by Knives Out International’s season 10 release. Downloads for NetEase rose 8% on the release of Eclipse Isle.\- Vey-Sern Ling and Matthew Kanterman, analystsClick here for the research.To be sure, Tencent can rely to an extent on cash cows Honor of Kings and battle royale shooter Peacekeeper Elite to cushion any economic shocks, while awaiting government approval to release potential smashes like Call of Duty Mobile domestically. Investors also hope many of the first-time users that gravitated toward Tencent’s games will remain once the pandemic subsides.Tencent’s stock began climbing in February after the outbreak exposed the dichotomy of the world’s second largest tech economy. While virtual denizens like Tencent rode a surge in social media and entertainment, other companies like Alibaba with outsized footprints in the material world struggled to contain the fallout.Tencent owed its gains to people like Huang Sihao who, for almost a month, was glued to his smartphone before going back to work. For as long as seven hours a day, the 28-year-old Shanghai resident hacked and slashed through the virtual battle arena of Honor of Kings — until the game’s anti-addiction system eventually booted him. “I had nothing better to do,” he said.Daily active users on the game have surged 7% to two million players on Chinese iOS devices since late January, while users on its super app WeChat have increased by 1.4 million, according to Apptopia data. Surprise hits included Tencent’s mahjong and poker titles, both of which have replaced the real-world versions played among friends and family.The pandemic may have also boosted Tencent’s nascent cloud division, which is closing the gap with Alibaba in terms of revenue. Tencent’s two collaborative office apps — Tencent Conference and WeChat Work — rank among the most downloaded free apps on Apple’s iOS Store in China, closely trailing Alibaba’s DingTalk.In the longer term, the bigger problem may be ByteDance Inc. The world’s largest startup has been luring users and advertisers away to its addictive apps like news aggregator Toutiao and video platform Douyin, TikTok’s Chinese twin. Now, ByteDance is trying to diversify its revenue stream into arenas such as paid music services and full-fledged video games, posing potential threats to Tencent’s online content empire.“With ByteDance’s combined user base approaching Tencent’s, media buyers aren’t just keen to hear what new apps or functions Tencent has in the pipeline, but how it’s making digital ad spend go further,” said Michael Norris, research and strategy manager with consultancy AgencyChina.(Updates with Bloomberg Intelligence report from the fourth paragraph)To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Gambling limitations, elderly shopping hours; coronavirus changes business
Mon, 16 Mar 2020 07:17:27 +0000
SEOUL/SHANGHAI (Reuters) – Apple is taking the temperature of customers at its China stores, Australian grocer Woolworths is providing dedicated shopping hours for the elderly and Samsung will use thermal imaging to vet shareholders at its annual meeting. Companies across Asia are taking novel and sometimes drastic steps to implement “social distancing” measures to try slow the spread of the coronavirus, which has infected more than 170,00 globally and killed more than 6,500. Australian casino operators, and rivals, Crown Resorts and Star Entertainment announced plans to take half their electronic gaming machines and table offline to ensure their customers got some space.
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