Apple’s latest earnings show that sales for the Mac and iPad really struggled in this last quarter. Furthermore, the drop in sales to greater China also weighed on sentiment surrounding Apple stock the EPS hit target as did revenue but sales in greater China fell 2 1/2% year-on-year and came in below market expectations.
However, can Apple stop keep moving higher on hopes that the Federal reserve has had their last interest rate hike? From a seasonal perspective, Apple shares have gained 68% of the time between the 17th November and the 2nd of December. So with Apple threatening to break out of this trend line on the daily chart, can Apple eek out some extra games into the second half of this month?
Major Trade Risks:
The major trade risks here is if inflation remains sticky, the US economy stays strong, and the Fed has to hike rates even higher.
Remember don’t just trade it, Seasonax it!