Apple (AAPL) held above its 50 EMA at $121.18 in early trading Thursday after hitting a new low for the month. The stock edged higher from its intraday low of $121.63 to currently log almost a 2% gain. Some continuation today could set it up for a retest at $125. A break above that level could trigger more bids.
Apple share price has been on an downtrend from Feb 25. Despite its recent price depreciation, it goes without saying the stock has enough strong fundamentals that may further drive it upward.
AAPL shows the following financial data:
- $32.66 billion in cash in most recent quarter
- $231.84 billion t-12 total assets
- $111.55 billion total equity
- $199.80 billion t-12 revenue
- $39.51 billion annual net income
- $50.14 billion free cash flow
Currently, the equity is trading at a t-12 and forward P/E of 16.83x and 13.38x, respectively. The name has long-term earnings growth expectation of 12.96%.