Apple prepares for recession, Alphabet completes 20:1 split

The specter of a looming global recession is taking its toll on the mood of the boards of major companies, which are increasingly signaling internal changes to prepare their businesses for tougher times. It's no different with Apple (AAPL.US), which plans to slow hiring dynamics and cut spending in some of its divisions in the coming year. The changes won't affect all teams, and Apple is still planning an aggressive 2023 product launch schedule that includes, among other things, a mixed reality (VR/AR) suite, the first such major new category project since 2015. Despite the relatively soft future announcements, Apple's more cautious tone is noteworthy given the company's strength in the face of the Covid-19 pandemic and other turmoil (relative to peers). Yesterday, the company's shares lost nearly 2.1% following the news.

Apple (AAPL.US) stock chart, D1 interval. The company's shares recorded a drop of more than 2.1% after reports of planned cuts triggered by recessionary concerns. Technically, the stock retreated from the limits set by the EMA 100 and EMA 200 (purple and gold curves, respectively) and sought support within the EMA 50 (blue curve). Source: xStation 5

Yesterday also saw the finalization of the 20:1 split of Alphabet (GOOGL.US) shares, and now the company's stock is trading in the $100 range. Yesterday, the stock recorded more than eight times as many buy orders as sell orders for the shares, based on Fidelity data. Nevertheless, despite strong interest at the beginning of yesterday's session, the second part of the session brought a reversal on the Mountain View giant's shares, recording a daily decline of nearly 2.5%. 

Alphabet (GOOGL.US) stock chart, D1 interval. Apple's reports and the realization of profits neutralized the fact that the stock split was finalized at a ratio of 20:1. The shares fell to the area of the lower barrier of the growth channel. Source: xStation 5