Apple Inc. (NASDAQ:AAPL) stock has been trading in a rectangle trading range over the past several weeks forming a resistance line and level of support. At some point, the stock is expected to either break the resistance or the support. Read more to learn how to take advantage of this trade.Apple Inc. (AAPL) designs a wide variety of consumer electronic devices, including smartphones, tablets, PCs, smartwatches, and TV boxes, among others, with the majority of revenue coming from the iPhone.
The company’s Services and Wearables businesses are expected to drive sales growth this year. In fact, the Services segment has emerged as the company’s new cash cow. AAPL’s entrance into autonomous vehicles and augmented reality could serve as a long-term growth opportunity.
The company had a whopping $70 billion in cash on hand as of the most reported quarter. This certainly compares favorably to its short-term debt of $13 billion. AAPL also has very high return on equity (110.3%) and ROIC (41.4%) ratios.