Apple Computer Inc Technical Analysis & News – 21 September 2022
21 Sep 2022
Apple Computer Inc: News & Technical AnalysisÂ
Apple may move a quarter of iPhone production to India by 2025
Apple Inc (NASDAQ: AAPL) may make one out of four iPhones in India by 2025, JPMorgan analysts said on Wednesday, as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict COVID-19 lockdowns in the country.
The brokerage expects Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world’s second-biggest smartphone market after China.
It is also estimating about 25% of all Apple products, including Mac, iPad, Apple Watch and Air Pods, to be manufactured outside China by 2025 from 5% currently.
Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government’s push for local manufacturing.
The pandemic hampered supply chain relocation plans for businesses, but with restrictions easing, more companies, including Apple, are reaccelerating these efforts this year.
“Taiwanese vendors such as Hon Hai and Pegatron play a key role in the relocation to India. In the medium to long term, we also expect Apple to qualify local India manufacturing suppliers,” according to JPMorgan analysts led by Gokul Hariharan, who is rated 4 out of 5 for estimates accuracy.
A Bloomberg report said earlier this month that Indian conglomerate Tata Group was in talks with Wistron to establish a joint venture to assemble iPhones in the country amid Apple’s plans to cut production lag with China.
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 50 days SMA & above 20 and 100 days SMA.
RSI is in neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.
Its immediate support is 153.44 & the resistance level is at 159.34.
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..