Apple Earnings Preview – A Strong Quarter May No Longer Be Enough
Apple is betting on new leadership and a major product refresh to revive innovation, regain AI momentum and rekindle excitement around its ecosystem.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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Apple is betting on new leadership and a major product refresh to revive innovation, regain AI momentum and rekindle excitement around its ecosystem.
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Middle East supply risk is a key driver, with oil and the dollar breaking higher on inflation and safe-haven flows, gold and the JPN225 trying to rally against those same yield and dollar headwinds, and the yen sitting on intervention watch above 163.
The SPX500 is coiling between 7,420 and 7,580, with earnings season likely to determine whether weak momentum gives way to a breakout or sharper pullback.
Big Tech must prove that record AI spending can generate sustainable free cash flow.
Burnham may lift sterling sentiment, but fiscal credibility, relative rates and global risks will determine GBPUSD’s direction.
UKOil’s bullish technical breakout is reinforced by renewed Hormuz supply risks, although weak demand remains a key counterweight.
UKOil is bullish above $82 but faces key resistance at $86, with the next move likely determined by whether Hormuz tensions escalate or ease.
Softer-than-expected US inflation, tempered by Fed Chair Warsh's caution, is driving sharply divergent and technically pivotal moves across oil, the dollar, gold, and Japanese equities.
The SPX500 faces a make-or-break test at 7,580 as cooling momentum, Hormuz-driven inflation risk and Q2 earnings collide.
Gold’s near-term direction will depend on whether CPI, Warsh and Hormuz push real yields and the dollar higher or lower.
NVIDIA’s bullish wedge breakout, improving RSI and potential China reopening strengthen the bullish case, with $204-$206 the key confirmation zone.
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