Apple has no plans to accept cryptocurrency payments; the CEO of the tech giant confirmed the same in a recent event. It is reasonable to own cryptocurrencies as part of a portfolio. However, the company is yet to jump on the crypto bandwagon. Though Cook is personally invested in cryptocurrencies, Apple is unlikely to offer it to users. Cook performed research on crypto for “a while.” Cook firmly stated that cryptocurrencies have been on the company's radar for a while now.

The tech giant is exploring cryptocurrencies without immediate plans to support crypto payments. Cook told Dealbook’s Andrew Ross Sorkin that Apple has decided whether it makes sense to invest in cryptocurrencies. The tech giant is not yet ready to speak about crypto products. Apple releases earnings on October 28. As ever they were highly anticipated, but this time they let investors down. Earnings per share (EPS) came bang in line with expectations at $1.24, while revenue slightly missed analyst expectations at $83.36 billion versus expectations for $85.05 billion. The tone of commentary with regards to outlook was not exactly reassuring with problems over supply chain issues and semiconductor chips hitting outlook. The next session Apple was down nearly 2% as investors digested the news.

BULLISH AND BEARISH CONDITIONS/ POSSIBILITIES :

Apple in our view reaches a key juncture after results. The stock has retraced most of the losses after earnings and sits virtually unchanged now from just before earnings. Clearly then this is the pivot. Earnings were poor or at least disappointing. Breaking the high at $153.17 put Apple stock firmly on course to break all-time highs in our view. If the stock does not break above, then it proves this was a perfect retracement failure and should set AAPL a target of $138.31 in the short term. This is key support as it was a double bottom. The 200-day moving average also sits close by, making it even stronger support.

Apple not to entertain any crytpo transactions for now

Nov 10 2021