The iPhone maker released its second-quarter fiscal earnings. Even though iPhone sales were down about 10%, the company’s earnings per share and revenues were marginally better than anticipated. Along with executives touting the potential of Apple’s AI initiatives, the company revealed the details of its largest-ever share repurchase in U.S. corporate history during its earnings call.  

Apple’s stock increased 6% on Friday to settle at $183. 38..A positive technical sign was the volume increasing the day before along with the price; overall, 87 million more shares were traded than the previous day. The short-term and long-term moving averages for Apple stock indicate buy signals, indicating a favorable outlook for the iPad maker.

Additionally, the relationship between the two signals indicates a general buy signal when the short-term average is higher than the long-term average. There will be some support for corrections down from the lines at $172.68 and $171.06. 

Sell signals will likely be generated if any of these levels are broken below. On Friday, April 19, 2024, a pivot bottom point was used to provide a buy signal; it has since increased by 11.14%. Until a new top pivot is found, more rising is suggested. 

Moreover, the three-month Moving Average Convergence Divergence (MACD) indicates a purchase signal. Price and volume are increasing simultaneously. This is regarded as a reliable technical signal. 

The massive consumer electronics company Apple (AAPL) is dealing with several issues that have affected Apple shares, including a lawsuit filed by the US Department of Justice alleging antitrust violations. Despite its $110 billion share price, many investors may still be unsure if AAPL stock is a good investment at this time.  

The Justice Department on March 21, filed a lawsuit against Apple, claiming that the Cupertino, California-based business had broken antitrust laws with its exclusive iPhone and App Store guidelines. According to the lawsuit, Apple’s actions make it more difficult for Americans to switch cell phones, stifle app innovation, and impose exorbitant prices on customers, companies, and developers. 

In terms of AI, particularly generative AI, Apple is lagging behind its competitors in the Big Tech space. Profits may suffer temporarily because of the company’s expensive AI program. 

After ten years of labor, Apple decided to stop developing autonomous electric vehicles in late February. Apple allegedly invested over $10 billion in the Apple automobile project before discontinuing it to concentrate on artificial intelligence. 

Although Apple has several encouraging signs, market participants still don’t think they are sufficient to recommend the company as a buy. It should be viewed as a hold candidate (hold or accumulate) in this role for the time being while more development is being made. Since the last evaluation, we have lowered our analytical conclusion for this stock from a Buy to a Hold/Accumulate candidate due to a few minor shortcomings in the technical picture.