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The earnings season brings new releases traders need to follow! On Wednesday, we recommend you to have a closer look at Apple, Facebook, Ford, and eBay. While Apple, Facebook, and Ford are expected to publish their quarterly results at midnight (00:00 MT time GMT+3), eBay will report the earnings at 01:00 MT time (GMT+3). What exactly should you know about the upcoming releases?
Despite the pandemic, Apple has improved the demand for Apple products. The company’s recent focus has been on the distribution of its services that include movie and TV entertainment provider Apple TV+, video game seller Apple Arcade, news services, and stores (the iTunes Store and the App Store). That is, service revenue will be an additional important metric for traders to follow. All in all, analysts expect a company to post the fastest revenue and earnings growth in around 5 years. Isn’t it a good reason to follow this release?
Apple’s stock is consolidating between 135.5 and 131.5. If the release is disappointing, the stock will drop below 131.5 towards 130.20. On the other hand, it will rise above 135.50 to 137.40.
Facebook has benefited from increased usage of Instagram, Messenger, and WhatsApp. Analysts believe that the company’s growth may be driven by tools that provide e-commerce services to users. At the same time, the company has been facing problems after changes to tracking the user-activity trend made by Apple and Google. Thus, it will be interesting to follow this stock due to complicated data.
The stock of Facebook has gapped after the start of Wednesday’s trading session. Follow the resistance of 315 and the support of 302.
Despite the coronavirus pandemic and ongoing global chip shortage, analysts are optimistic about Ford. The main reason for that is rising vehicle sales in North America, the main company’s market. If their forecast is true, Ford’s earnings will greatly benefit from higher demand. As a result, the stock of Ford will rise.
Ford’s stock managed to break above the descending trading channel and rise to 12.6. If the earnings are optimistic, the stock will inch higher to 13. For bears, key support lies at 12.
The company is forecast to prove its solid performance of the Marketplace platform. The company has reported better-than-expected revenue EPS in each of the last four quarters. Thus, we expect this trend to remain.
Key levels for the stock of eBay on the upside lie at 63.4 and 65. If the earnings are lower than the forecasts, the stock will fall to 60.50.
Remember that the market opens at 16:30 MT time (GMT+3).
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
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