Apple is the most valuable brand in the world. According to Forbes, Apple was worth $205.5 Billion in 2019. The company has a strong following across the world. This is because people consider owning Apple products to be a great luxury. Due to this, market analysts usually give Apple’s stock a high rating. They consider it be a blue-chip stock.
But during the Covid-19 pandemic, even blue-chip companies are suffering. The stock market is very. Thus, there is confusion among many investors right now. While people usually consider blue-chip stocks to be an extremely safe option, they don’t even know if they should buy these stocks at this time.
Apple Shares Overview
The Apple stock, also called AAPL, is listed on the NASDAQ stock exchange in the United States. As things stand, the stock closed at a price of 318.89 USD on Friday, 22 May 2020. The stock then rose further in after-market trading to a price of 319.06 USD. The share will be next available for sale on Tuesday, 26 May 2020. As of Friday, the stock’s volume in the market was 20,450,754.
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Apple Shares: Buy Or Sell?
The question many investors are asking is if they should buy or sell Apple shares right now? There are different approaches for short-term and long-term investors. The technical analysis currently states that the Apple share is a strong buy. The Simple Moving Average (10), the exponential moving average (10), Ichimoku Cloud Line, and Volume Weighted Moving Average (20) all suggest a strong buy right now.
While most oscillatory indicators are neutral, and the Hull Moving average suggests selling, most of the common indicators recommend a buy position in the short run. Even with respect to the long run, Apple is a strong buy for fundamental investors. The company has extremely strong fundamentals in its books, and its financials remain solid. The company is likely to retain its customer base for years to come, and hence it is a strong buy even for long-term investors.
Apple Shares: Covid-19 Impact
When the Covid-19 pandemic started spreading in February, Apple’s stock was at a price of 308.66 USD as of 3 February 2020. The stock plummeted initially, falling as low as 224.37 USD as of 23 March 2020. But the company has recovered since and now stands at a price of 318.89 USD. While the demand for Apple’s iPhones and Wearables, the company has consolidated with a rise in subscription to its premium services. Overall, the company is holding up fairly well during the pandemic.
