Where are we going with gold? Let's make a step back - or, rather, travel back in time to throw a strategic look at the gold price.
Apple is on rise because of new processors
Information is not investment advice
The Apple’s stock gained on the announcement and the Intel’s dropped.
The Apple is going to announce its new own processors the week of June 22. Macs with new processors will be launched in 2021 to give developers enough time to adjust. The company has used the same technology for new chips as for Apple-designed iPhone and iPad chips. It will be the first time in 32 years of the Mac’s history that Apple will power these gadgets. It used such processors before as Motorola, PowerPC and Intel.
Why is it important for traders?
The Apple stock will climb up, but the Intel stock may loose its value. If the premium-class Apple corporation turned away from Intel for the slow performance, it would be a reason for other laptop and PC makers to change their minds too and switch to other processors. Apple tests showed that its new chips overperformed Intel-based ones, especially in graphics and apps that use artificial intelligence. In addition, Apple is planning to launch IPhones 12 in July with the revolutionary 5G technology.
The Apple stock increased after that news and reached the all-times high at $344. Moreover, the golden cross has appeared as the 50-day moving average has just crossed the 100-day moving average from the bottom up. That’s a clear signal to buy. Consider getting profit on the Apple’s growth. Support levels are at $320 and $305.
Let’s look what’s happening with the Intel stock. The price fell yesterday on the Apple’s announcement, but today it’s barely moving. Some analysts think that the Intel processor is still the best for the gaming industry, that’s why Intel isn’t likely to lose a massive amount of business. So, we can assume that the Intel stock won’t fall in a long term. We can notice the golden cross on the chart, what’s a signal to buy. However, it’s better to wait for a next price movement to understand where it will go further as fundamental factors put a lot of pressure on it. Anyway, the resistance level is at $67.5. Support levels are at $61.5 and $60.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.