Trading Strategies For Apple Stock Heading Into Q4 Earnings
Portfolio Pulse from Melanie Schaffer
Apple Inc (AAPL) is set to release its Q4 financial results, with analysts estimating earnings per share of $1.31 on revenues of $84.18 billion. Wedbush analyst Daniel Ives reiterated an Outperform rating on the stock and maintained a price target of $240. Traders bullish on Apple may choose to take a position in Direxion Daily Apple Bull 1.5X Shares (AAPU), while bearish traders could opt for Direxion Daily Apple Bear 1X Shares (AAPD).
November 02, 2023 | 7:02 pm
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NEUTRAL IMPACT
The performance of Direxion Daily Apple Bear 1X Shares (AAPD) is likely to be influenced by Apple's Q4 results. A negative outcome for Apple could lead to an increase in AAPD's value.
AAPD tracks Apple to the inverse. Therefore, any significant downward movement in Apple's stock price, such as that which could be triggered by disappointing Q4 results, is likely to have a corresponding upward impact on AAPD.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
Apple's Q4 results could significantly impact its stock price. A positive outcome could lead to a price increase, while a negative one could result in a decrease.
The release of Apple's Q4 results is a major event that could significantly affect the company's stock price. The direction of the impact will depend on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
The performance of Direxion Daily Apple Bull 1.5X Shares (AAPU) is likely to be influenced by Apple's Q4 results. A positive outcome for Apple could lead to an increase in AAPU's value.
AAPU seeks to return 150% of the performance of Apple’s stock. Therefore, any significant movement in Apple's stock price, such as that which could be triggered by the release of its Q4 results, is likely to have a corresponding impact on AAPU.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 80