Same as GAP, NFLX, AMZN and every other consumer related stock AAPL is not impervious to the headwinds. Consumer is tapped out! $6 a gallon gasoline here in CA. Inflation . Higher interest rates. Rising wages. Labor force shortages. Consumers being squeezed on every front. Something has to give! Prior to the Russian invasion of Ukraine, prior to $6 a gallon gasoline, higher mortgage rates, higher credit card rates. I don't believe this will crater like NFLX however it should see a 10-15% haircut in the days following ER and lowered guidance. How many consumers were lost in Russia? How did the China lockdowns affect this quarter? How can they guide higher? I say they cannot! Chart seems to be ready to give up the ghost as well
Trade active:
Purchased 50 June 3rd $160 puts
Comment:
$8 billion dollar hit and NO GUIDANCE! I'd expect a move under $140 in coming weeks
Trade closed manually:
Forgot (as usual) to update I closed this trade 2 weeks ago I believe 50% profit on puts. I have been expecting a bear market rally so I sold/ covered all my shorts two weeks ago and have been a bagholder on my longs since