Published - August 30th, 2023 @ 11:00 AM (GMT+2)
Apple's Stock Performance: A Closer Look
Apple Inc. (NASDAQ:AAPL) has been making headlines with its stock performance. As of the end of August 2023, the stock is priced at $184.12 with a market cap of 2.88T USD. Over the last month, the stock has seen a decline of 6.28%, but it has gained 15.86% since last year. Year-to-date, the stock has surged by 47.21%. With an average volume of 55.81M, a P/E ratio of 30.94, and a dividend yield of 0.52%, Apple remains a strong contender in the market.
Anticipating Apple's September Event
Apple's next major product event is officially scheduled for September 12. The event is expected to unveil the tech giant's latest iPhone 15 and Apple Watch Series 9. The iPhone 15 series is rumored to feature new titanium cases and advanced A17 chips, while the Apple Watch Series 9 is expected to come with a more powerful S9 processor. This event could be a game-changer for Apple, potentially driving its stock even higher.
The Importance of Relative Strength Rating
Apple's stock recently received an upgrade in its Relative Strength Rating, jumping from 83 to 85. This metric is crucial for investors as it measures share price performance against other stocks. A high RS Rating often indicates impending significant price moves, making Apple a stock to watch closely.
Fundamentals and Market Position
Apple reported its fiscal third-quarter earnings with a 5% growth to $1.26 per share and a slight 1% dip in revenue to $81.8 billion. Despite missing analysts' consensus, Apple holds the No. 2 rank among its peers in the Telecom-Consumer Products industry group.
Conclusion
Apple Inc. is at a pivotal point with its upcoming September event and recent stock performance. While the stock has seen some volatility, its strong fundamentals and high Relative Strength Rating make it a compelling option for investors. The unveiling of the iPhone 15 and Apple Watch Series 9 could further bolster its market position.
The information on mexem.com is for general informational purposes only. It should not be regarded as investment advice. Investing in stocks involves risk. A stock's past performance is not a reliable indicator of its future performance. Always consult a financial advisor or trusted sources before making any investment decisions.
