AAPL, MSFT and NFLX Forecast – US Tech Giants Up in Premarket Trading

AAPL Technical Analysis

The market in the early hours for Apple on Thursday is pretty quiet. We are up a little bit but quite frankly, it looks like we are going to open up somewhat unchanged. We recently have seen a pretty big move higher. And now the question is, would the market need to drop down to the $245 level, which would also be the 38.2% Fibonacci retracement level, an area that has been supported in the past to get going, or will the rest of the technology stocks drag Apple higher?

I do think that one thing that could come into play sooner rather than later is as we look towards earnings on the 30th of January. The stock does have a long history of being a little bit wonky through the earnings season. Generally, what happens is they sell it off and then find something to like and move forward. So, in the short term, Apple could be a bit of a laggard when it comes to the technology giants, but I still certainly don’t see a situation where you were trying to get short.

MSFT Technical Analysis

Microsoft has rallied pretty significantly in early hours trading, it’s up about $5, as it looks like a pseudo trend line is holding. And of course, it’s also worth noting that earnings for Microsoft are on the 29th of January. And it will be interesting to see how that plays out. Also, don’t forget the dividend of 83 cents on the 20th of February.

So, I think these are things that traders will continue to buy the dip kind of steady as she goes going forward. It’ll be interesting to see how these technology companies do with a new Trump administration coming into the office. But the reality is, people were worried about Big Tech back then during his first term and they did fairly well. So, I think that’s a bit of a misnomer.

NFLX Technical Analysis

And finally, streaming giant Netflix is up about $4 in pre-market trading as it looks like we are going to continue to see consolidation with the market bouncing around between roughly $885 and $940. This is a market that of course has been shot straight up in the air until about Christmas time maybe a couple of weeks before and then we’ve just started to drift sideways. That makes sense as traders are trying to digest these massive gains.

After all, on the first of November we were at $746, and then by the time we got to the end of November, we were at 900. So, something to keep in mind. It’s a market that is probably more or less buy on the dip, but to find more momentum, it’s probably going to have to wait until the earnings call on the 21st of January to really get rocking and rolling Netflix continues to dominate the streaming space. So, it does make sense that it trades at a premium.