Apple stock forecast has not been complicated by the latest global political turmoil involving Russia and Ukraine. The company stock still looks poised to continue with its bullish move despite today’s trading session showing a loss of more than 1 percent of its value.
Apple Latest Fundamentals
Apple has been among the companies that have been affected by the ongoing war in Ukraine. The company, for instance, has halted its sale of all its products in Russia. Although this action has not started to impact its stock prices, the decision will see Apple lose sales in one of its largest markets in Europe.
Apple’s financial records for the first quarter of 2022 have also been strong, recording a profit of $34.63 billion. The company also indicated that it had made a revenue of $123.94 billion. This is a significant growth compared to last quarter, where the company made $83.36 billion in revenue and a net income of $20.55 billion.
The company’s balance sheet for the first quarter of 2022 is also great with net assets of $381 billion and liabilities totaling $309 billion. The company also has a debt to asset ratio of 81 percent, which compared to its size, is not bad.
Apple Stock Forecast
Apple stock price has been on the rise since June 2021 and has traded along the ascending trendline for most of that time. Today, the stock price stands at $163.20. This is after a significant decline in prices that started on February 9, which has seen the stock lose 7 percent of its value.
Looking at the daily chart below, my Apple stock forecast expects the prices to rise and hit the recent resistance level of $183. This analysis is supported by the ascending trendline analysis, whereby the prices are currently bouncing from the trendline to the upside. Looking at price history data, Apple stock has always been volatile and hence I expect the push to the upside to be aggressive. However, if the prices retract towards the ascending trendline again, then my analysis will be invalidated. It will also mean the stock price is likely to continue its recent decline
Apple Daily Chart
