Despite the recent announcement of the departure of Steve Jobs as the CEO of Apple Computer, the large tech company has traded relatively well in the recent market downdraft. Apple is relying on solid sales and strong earnings to keep its stock in robust territory.
Apple (AAPL) had year-over-year sales growth of 82% during the last quarter. The company has reported $100.3 billion in sales over the past 12 months and is expected to report $133.1 billion in sales in the next fiscal year. This type of sales growth is keeping Apple among the top sales performers globally.
The company has an earnings per share change of 122% quarter over quarter and 61% change in 3-year sales growth. With no debt and a PE ratio of 15, the company looks like it would be a strong buying candidate once positive investor sentiment returns to the markets.
AAPL has been able to hold support levels near the 50-day moving average at 375, and is consolidating below resistance levels near 392. A break above this level will likely mark a test of the highs near 410.
The trade, purchase a daily binary call option on AAPL on a daily close above 393, with a cap at 398.
Signal Summary
Asset : AAPL
The trade : Binary Call Option
Expiry time : End of day
When : On a daily close above 393, with a cap at 398
