Apple South Korea’s 2021 sales soar 24% to top $5.97bn

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Seoul, Jan 13 | Apple Korea’s sales jumped 24 per cent on-year to hit $5.97 billion last year, a new data showed on Thursday.

The South Korean unit of US tech giant Apple — Apple Korea Ltd.– logged 7.1 trillion won ($5.97 billion) in sales from October 1, 2020 to September 30 last year, according to its audit report filings.

Net income for the cited period stood at 124.3 billion won, down slightly from a net profit of 127.4 billion won the previous year.

The company’s operating profit dropped 13.3 per cent on-year to 111.49 billion won over the cited period, reports Yonhap news agency.

This marked the first time Apple Korea has released its audit report since the South Korean unit converted into a limited company in 2009.

Under the amended Act on External Audit of Stock Companies, limited companies also have been obliged to undergo external audits and to publicly disclose their audit reports since 2019.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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