Apple is making major investment moves including a $ 1 billion campus in North Carolina
The shares of Apple Inc. (NASDAQ: AAPL) are unchanged this morning, down 0.1% to $ 134.20 after the tech giant announced it would invest more than $ 430 billion in the U.S. economy – up from its original 2018 commitment of $ 350 billion. USD increased – and 20,000 new jobs created over the next five years. In addition, Apple plans to open a new campus in North Carolina, specifically in the Raleigh area, and will spend over $ 1 billion to employ 3,000 people in areas such as software engineering and machine learning.
After hitting an all-time high of $ 145.09 on January 25, the security steadily fell to an annual low of $ 116.21 by March 8. Using the 180- and 10-day moving averages, equity managed to explore a channel from higher highs in early April, but noted pressure around the $ 136 level. AAPL is down 6% in the past three months and is just a hair above its 2021 breakeven point.
Analysts are still overwhelmingly bullish on Apple stocks, with 23 of the 26 reporting being “buy” or better. The 12-month consensus target of $ 152.06 represents a premium of 13.1% over current levels.
That positive sentiment is reflected in the option pits where calls are popular. AAPL has a 10-day call / put volume ratio of 3.51 on the International Securities Exchange (ISE), the Cboe Options Exchange (CBOE) and the NASDAQ OMX PHLX (PHLX), which is the elevated 88th percentile of its annual Bandwidth is. This suggests that the appetite for bullish betting has been healthier than usual lately.
Finally, investors looking to get into the next step in Apple stock may want to consider options. The Schaeffer volatility index (SVI) of the security of 30% is in the 19th percentile of its annual range. In other words, options traders are currently anticipating relatively low volatility expectations. In addition, the Schaeffer Volatility Scorecard (SVS) for the share is 94 out of a possible 100 points, which means that AAPL has tended to exceed these volatility expectations in the past year – a boon for option buyers.