Bullish options flow was detected in early trading in AAPL stock on November 24, 2020.
Make sure to review this lesson on options trading so that you understand the chart above.
Credit Suisse analyst Matthew Cabral says that wait times for the Apple iPhone 12 Pro and Pro Max shortened by two weeks in the U.S. and one week in Japan, but remain extended at over 2 weeks across all SKUs, while both the base iPhone 12 and 12 mini are essentially at equilibrium with waits of less than 1 week. Even with the drop in waits, the 12 Pro continues to track favorably versus the 11 Pro last year which is positive for ASPs, while shorter waits for the iPhone 12 and 12 mini suggest potential unit softness, Cabral adds. The analyst has a Neutral rating and a price target of $106 on the shares.
After Apple (AAPL) hosted its “One More Thing” event where the company introduced its new in-house designed M1 system on a chip, and three new Macs featuring the chips, Wells Fargo analyst Aaron Rakers said he views Apple’s performance stats “impressive” and a net positive. The analyst, who noted that he would expect Apple-silicon Macs to carry a higher gross margin percentage than their Intel-based (INTC) counterparts, has an Overweight rating and $140 price target on Apple shares.
On November 23, 2020, the approach that President-elect Joe Biden may take regarding technology legislation may be reflected in the views of one of his top technology advisers, Bruce Reed, wrote Reuters. “Bruce Reed, a former Biden chief of staff who is expected to take a major role in the new administration, helped negotiate with the tech industry and legislators on behalf of backers of a ballot initiative that led to the 2018 California Consumer Privacy Act. Privacy advocates see that law as a possible model for a national law,” noted Reuters in the story. Companies that may be impacted by this include: Facebook (FB) Apple (AAPL). Alphabet (GOOG, GOOGL) Uber (UBER), Tesla (TSLA), Lyft (LYFT). Biden is going to give tech companies the pen to write their own legislation as evidenced by big tech helping him win against Trump by pouring hundreds of millions of dollars into his campaign.
On November 11, 2020, a statement of the FCC Commissioner Geoffrey Starks on the presidential transition: “In response to today’s letter from Rep. Frank Pallone and Rep. Mike Doyle regarding the presidential transition, Commissioner Starks issued the following statement: “As two of my Republican colleagues observed in 2016, it is long-standing Commission practice that, upon a presidential transition, the agency suspends its consideration of any partisan, controversial items until the transition period is complete. Our congressional leaders have called or Chairman Pai to respect this precedent, and I expect that he will abide by their request.” Companies that may be impacted by this include Amazon (AMZN), Apple (AAPL), Facebook (FB), Alphabet ()GOOG, GOOGL), Twitter (TWTR), Verizon (VZ) and (AT&T).