Apple Share Price Forecast February 2022 – Time to Buy AAPL?

The $2.7T worth smartphone manufacturer company, Apple Inc. (NASDAQ:AAPL) shares are in the red today ending its uptrend. Apple shares closed on Feb 17th at $168.88 with a 2.13% downtrend but it is not discouraging long-term investors. The company has been on a winning streak for over 10 years under CEO Tim Cook’s command. The shares value has grown about 10-fold and the company has become an ideal most profitable business in the world.

Apple– Technical Analysis

Apple has recently shared its financial statement showing that it has completed multiple financial milestones by reaching net revenue of $365.8 billion in 2021. In its Q4 2021 earnings report, AAPL showed 46.9% growth in its gross profit which was about $152.8 billion in 2021 ($48.8 billion more than 2020). 

The usual technical indicators trusted by global traders including oscillators and moving averages are indicating a buy price action for the rest of the week despite the current setback. A total of 13 indicators are putting AAPL shares in the buy zone. Contributing oscillators are RSI (62.69), MACD (7.07), and moving averages like SMA (162.95), and EMA (163.77). 

 

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Recent Developments

Recently, Apple’s influential shareholder advisory firm (ISS) shared its recommendation of investors rejecting a $99 million worth of pay package to be awarded to its current CEO due to what they described as “significant concerns”. The company is said to have an official meeting to discuss the particulars regarding the pay package sometime in the first week of March. Apple spokesperson has declined but according to Apple’s proxy letter, the total compensation for Cook would be measured per the company size, performance, and profitability.

The financial market reacted negatively to another news concerning Apple’s growing percentage of consumers plan for smartphone upgrades this year, according to a survey. The survey also mentioned that the interest in upgrading iPhones have recovered from COVID-19 lows. The company is said to be re-enabling the previous replacement cycles. The survey participants were Apple iPhone consumers living in the U.S., U.K., China, and India where the intent to upgrade is higher than anywhere else in the world. 

One of Apple’s direct competitors, Google (NASDAQ:GOOGL) has announced privacy changes similar to the iPhone manufacturer. The new plan would prevent the Alphabet-owned company to track consumers’ data across different applications on Android-powered devices. Privacy has always been a forte of Apple devices but now the Android owner has made a similar move to keep advertising practices in check. Experts believe that GOOGL and AAPL shares’ paths appear to have diverged as revealed by their drastically different final quarter earnings report of 2021.

Should You Buy AAPL?

After taking a good look at the iPhone maker’s previous earnings report, it is evident that there is no point in buying AAPL for the short term right now. The upcoming weeks are going to be decisive in many aspects for investors both retail and institutional. Although last month, Apple Inc. shattered records by becoming the first company to reach $3 trillion in market capitalization. But the downtrend suffered by AAPL shares at the moment is most likely to be a pullback of that milestone.

For more optimistic investors, AAPL shares remain in a buy zone according to some market experts. After forming a cup-with-handle base on IBD MarketSmith charts, it could make a recovery within a week. Apple shares ratings have reduced somewhat insignificantly after being in the red since yesterday. It is still one of the most profitable and high-valued shares available out there.

 

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