APPLE COMPUTER INC: NEWS & TECHNICAL Analysis
Union groups, and investors seek worker rights review at Apple
Labor groups and investors have filed a shareholder proposal asking Apple Inc (NASDAQ:AAPL) to review how it treats workers’ rights, looking to build on recent momentum to unionize workers at the iPhone maker’s retail stores.
The proposal filed by a group including SOC Investment Group, a consultant to union pension funds, and an arm of the Service Employees International Union, accuses Apple of an “apparent misalignment” between its public commitments to things like freedom of association and accusations it has tried to unfairly deter union organizing.
The company is scheduled to hold an event Wednesday where it is expected to introduce new iPhones.
Other filers of the proposal include New York City Comptroller Brad Lander who oversees pension funds, Trillium Asset Management and Parnassus Investments.
Apple is among American companies that face unionization efforts along with Starbucks Corp (NASDAQ:SBUX) and Amazon (NASDAQ:AMZN) Inc.
Workers at a Maryland Apple store voted to unionize in June and efforts are under way in other states.
Shareholder proposals for Apple’s 2023 annual meeting are due Sept 8.
At this year’s meeting on March 4 two resolutions won a majority of votes cast including one asking Apple to conduct civil rights audit whose filers included some of the same union-affiliated investors.
The other successful resolution asked Apple for a review of its use of non-disclosure clauses and other agreements that limit worker speech.
APPLE COMPUTER INC Technical Analysis: Daily Chart
In the daily charts, APPLE COMPUTER INC is trading in down channel. APPLE COMPUTER INC is currently trading below 20 and 50 Days SMA & above 100 days SMA.
RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 152.05 & the resistance level is at 157.17.
APPLE COMPUTER INC will trade in down channel until there is trend reversal.
How to Trade APPLE COMPUTER INC this Week:
APPLE COMPUTER INC will follow the downtrend until their trend reversal. So, remain bearish on APPLE COMPUTER INC.
