. Apple Price Forecast, News & Technical Analysis - 05 October 2022

Apple Price Forecast, News & Technical Analysis

05 Oct 2022

Apple asks suppliers to shift some Air Pods, Beats production to India

Apple Inc is asking its suppliers to move some Air Pods and Beats headphone production to India for the first time, Nikkei reported on Wednesday, in what could be another win for New Delhi in its push for local manufacturing.

Apple (NASDAQ:AAPL) iPhone assembler Foxconn is preparing to make Beats headphones in India and hopes to eventually produce Air Pods in the country as well, the report said, citing sources.

Lux share Precision Industry, a Chinese supplier to the iPhone maker, and its units also plan to help Apple make Air Pods in India, according to the report.

However, Lux share is focusing more on its Vietnamese Air Pods operations for now and could be slower than its competitors in starting meaningful production of Apple products in India, the Nikkei newspaper said.

Apple did not immediately respond to a Reuters’ request for comment.

The tech giant has been shifting some areas of iPhone production from China to other markets, including India, where it started manufacturing iPhone 13 earlier this year, and is also planning to assemble iPad tablets. The company announced last week its plans to manufacture the latest iPhone 14 in India.

A Bloomberg News report from Tuesday said iPhone exports from India crossed $1 billion in five months since April and are set to reach $2.5 billion in the 12 months through March 2023.

Apple’s latest move is part of its gradual diversification from China, the Nikkei report said. India and other countries such as Mexico and Vietnam are increasingly turning important to contract manufacturers supplying to American brands amid COVID-related lockdowns in China and simmering tensions between Washington and Beijing.

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 all SMA.

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 143.01 & the resistance level is at 147.76.

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 down channel until there is trend reversal. So, remain bearish on APPLE COMPUTER INC..

TRADE SUGGESTION- SELL AT 144.73, TAKE PROFIT AT 143.01 AND STOP LOSS AT 145.00