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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
  Report
Delayed Quote. Delayed Nasdaq - 11/25 04:00:00 pm
116.03 USD   +0.75%
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Bulls are back in the Nasdaq and options are aflutter

10/20/2020 | 02:31am EST
Outbreak of coronavirus disease (COVID-19) in New York

NEW YORK (Reuters) - Investors are once again chasing upside in shares of tech companies after a sharp sell-off in U.S. equities last month.

Despite last week's market dip, the tech-heavy Nasdaq remains around 3% away from its record high. Traders - many of them retail investors - have plowed back into call options, used to position for gains in shares.

"There hasn't been that catalyst to really move the market down," said Matt Amberson, principal at options analytics firm ORATS. "Starting from late September, we've seen call buying come back."

Since its recent trough on Sept. 23, the Nasdaq has climbed nearly 10%. The index includes many growth-oriented companies, whose shares remain in favor in the wake of the novel coronavirus pandemic as their businesses have remained largely intact.

GRAPHIC: Nasdaq index closes in on record -

Speculators in the futures market have had a dramatic change of heart. Funds have pulled back from one of the biggest short positions in U.S. tech stocks in over a decade, in a near-record buying spree of Nasdaq futures, CFTC data from last week showed.

GRAPHIC: Speculators board the tech train -

Inflows to the Invesco QQQ Trust Series 1, a popular exchange-traded fund that tracks the Nasdaq 100 index, are also robust. The QQQ has reached $144.65 billion in assets under management, a record high, according to data from Lipper.

GRAPHIC: Tech takes off -

Moreover, volume has rebounded in equity call options, particularly for single-stock contracts. The ratio of call options relative to put options, a measure of how bullish traders are, has climbed since late September and is close to the peak reached just before the sell-off that month.

Previously, activity in single-stock options had surged as a large investor, later reported to be SoftBank Group Corp, made significant option purchases in August.

GRAPHIC: Running with the bulls - single stock options -

Interest in call options for companies such as Apple Inc , Facebook Inc and Netflix Inc - members of the market-leading group collectively known as FAANG - has especially climbed in recent weeks. Skew, a measure of demand for puts versus calls, is near its lowest levels over the past year for those companies, according to Trade Alert, meaning investors are positioning for more upside.

GRAPHIC: Tech bulls come calling - https://graphics.reuters.com/USA-STOCKS/OPTIONS-CALLS/azgpojbqqvd/chart.png

(Reporting by Saqib Iqbal Ahmed and April Joyner; editing by Megan Davies and Lisa Shumaker)

By Saqib Iqbal Ahmed and April Joyner


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.75% 116.03 Delayed Quote.58.05%
DJ INDUSTRIAL -0.58% 29872.47 Delayed Quote.5.28%
FACEBOOK INC -0.48% 275.59 Delayed Quote.34.27%
INVESCO LTD. -0.58% 17.03 Delayed Quote.-5.28%
INVESCO QQQ NASDAQ 100 0.61% 296.28 Delayed Quote.39.35%
NASDAQ 100 0.60% 12152.215271 Delayed Quote.38.32%
NASDAQ COMP. 0.48% 12094.402197 Delayed Quote.32.41%
NETFLIX, INC. 0.44% 485 Delayed Quote.49.89%
S&P 500 -0.16% 3629.65 Delayed Quote.12.35%
SOFTBANK GROUP CORP. 0.51% 6870 End-of-day quote.44.45%
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Financials (USD)
Sales 2021 314 B - -
Net income 2021 66 054 M - -
Net cash 2021 80 862 M - -
P/E ratio 2021 29,4x
Yield 2021 0,73%
Capitalization 1 973 B 1 973 B -
EV / Sales 2021 6,02x
EV / Sales 2022 5,67x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 126,12 $
Last Close Price 116,03 $
Spread / Highest target 29,3%
Spread / Average Target 8,69%
Spread / Lowest Target -35,4%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE INC.58.05%1 972 719
SAMSUNG ELECTRONICS CO., LTD.19.35%409 475
XIAOMI CORPORATION142.58%84 460
WINGTECH TECHNOLOGY CO.,LTD11.90%19 977
FITBIT, INC.9.44%1 954
MERRY ELECTRONICS CO., LTD.-16.42%1 031