EARNINGS: Apple’s Revenue Up 6%
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Apple’s revenue experienced a 6% increase this quarter, primarily attributable to robust sales of the iPhone 16.
However, a one-time $10.2 billion European tax charge led to a decline in net income.
Despite this temporary setback, Apple’s services and product lines continue to demonstrate consistent growth.
On Thursday, October 31st, Apple’s stock price decreased by 1.82%, closing at $225.91.
The stock exhibited significant volatility during the trading session, fluctuating between a low of $225.39 and a high of $229.83, representing a 1.97% price range.
Over the past two weeks, the stock has experienced a 2.69% decline.
Despite the downward price movement, trading volume increased by 10 million shares, which could be an early indicator of increased market uncertainty in the coming days.
A total of 56 million shares were traded, amounting to approximately $12.73 billion.
In the short term, the stock is currently consolidating within a weak uptrend.
Key levels are $236.48 resistance and $221.69 support.
