Apple Stock Forecast: Quick Win By The Algorithm Returning 9.27% As Predicted

Apple (AAPL)

Apple shares (AAPL) shares surged after the technology conglomerate posted solid results that reflected increased popularity in the iPhone across the globe.  As predicted by the algorithm AAPL shares grew 9.27%, 10 days from the forecast date. While the algorithm does not offer a 10-day prediction, the 7-day and 10-day forecast were bullish because of the impending earnings results.

Apple posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. International sales accounted for 66% of the quarter’s revenue. Sales of the iPhone, which carry higher margins than the iPad or Mac sales, led gross margins to rise from 37.5% last year to 39.3% this year.  Apple CEO Tim Cook stated "These strong revenue results combined with our best gross margin percentage since September of 2012 resulted in earnings per share growth of 15%, which is our highest earnings growth rate in the last six quarters.”

Read Our Full Analysis: Missed The Recent Surge? Apple Stock Forecast Indicates Better Buying Opportunities Ahead

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Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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