Apple Inc AAPL Resistance, pivot & Support Levels – 7/25/2012
Resistance levels: $615.29, $606.24, $590.10
Pivot point: $578.05
Support levels: $556.91, $546.86, $523.72
Share of Apple Inc. (AAPL) is trading over $560 ah on Tuesday because of miss earning.Apple (AAPL): FQ3 EPS of $9.32 misses by $1.04. Revenue of $35B (+22% Y/Y) misses by $2.5B. 26M iPhones sold, 17M iPads, 4M Macs.The company is guiding for FQ4 revenue of $34B and EPS of $7.65, below a consensus of $38B and $10.22. iPhone sales miss consensus, iPads beat. Gross margin of 42.8%, down 460 bps Q/Q (due to mix shift towards iPads) and up 120 bps Y/Y. 6.8M iPods sold, -10% Y/Y. Americas revenue +26%, Europe +16%, Japan +33%. Asia-Pac (led by China) +25% Y/Y but -22% Q/Q. Retail +17% Y/Y. $2.65/share dividend declared.Cash/investment balance reached $118B at end of FQ3, up from $110B at end of FQ2. Opex +35% Y/Y to $3.4B, surpassing revenue growth. iPhone revenue +22% Y/Y (major slowdown from FQ2's 85%), implied ASP of $625 (down from FQ2's $646). iPad revenue +52% (was +132% in FQ2), implied ASP of $538. Mac desktops -19%, Mac notebooks +3%.Mentioned during Apple's FQ3 call: China iPhone sales doubled Y/Y (total sales were up 3x last quarter). Asia-Pac Q/Q decline due to Chinese iPhone inventory adjustments (suggests channel was stuffed in FQ2). iPad channel inventories up by 2.1M. iPhone weakness in France/Italy/Germany. iTunes revenue of $1.8B, down slightly Q/Q. 2x Y/Y increase in iPad sales to education, 3x to Fortune 500. 1.3M Apple TVs sold (+170% Y/Y). Gross margin expected to fall to 38.5% in FQ4. AAPL -5.1%
Next short term support area is $550. Apple has next resistance $580.Long term support level 200 ema.I think stock is buy under $500 any market correction.Is Apple Inc. (AAPL) should trade $700 in 2012?. This is my one of the Top Pick for 2012.
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