Apple Stock Forecast: AI-Based Predictive Algorithm Shows Accuracy Up To 73% In Daily AAPL Predictions

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Feb 09, 2021 (The Expresswire) — The most recent stock market forecasts performance analysis published by I Know First Research Team uncovered the amazing predictive power of their proprietary algorithm for AAPL stock predictions. The company’s report covered the period from 23 January 2019 to 23 March 2020 and includes the time of the coronavirus crisis since the start of 2020, when the market became more volatile and unpredictable than before, as well as half the pre-pandemic 2019. During this time, the company has supplied its customers with AI-driven predictions Apple Inc and maintains those with leading accuracy until nowadays.

Market Overview

Along with the recent Apple stock forecast, this research by the I Know First team provides important insight into how machine learning and artificial intelligence can be utilized to predict the biggest market players, such as AAPL, amid COVID-19 market turmoil. Despite many adverse effects, the market has experienced over last year, Apple got off to a great start in 2020. Moreover, Apple had a blockbuster quarter that ended in December 2019, in which the company posted market-beating earnings and revenue.

In February 2020, Apple did not meet the revenue guidance for the March quarter of $63 billion to $67 billion. Apple shipped fewer than 500,000 iPhones in February 2020, a 60% year-on-year decline. However, in March, the picture began to change for many tech companies. Major tech companies hit record levels during the coronavirus pandemic as consumers rely more on e-commerce, video streaming, and other services they provide. That said, Apple became the first publicly listed U.S. company with a $2 trillion stock market value. Apple’s market cap now eclipses that of other U.S. tech giants, including Microsoft ($1.7 trillion), Amazon ($1.6 trillion), Google parent Alphabet ($1.1 trillion), and Facebook ($761 billion). The SandP 500 closed at an all-time high 6 months after the coronavirus crash. Much of this growth has occurred since late March, which shows how much the coronavirus pandemic has increased large tech companies’ fortunes as people rely on technology to work, study, and play.

Apple’s revenue grew across all categories and geographies in the June quarter, even as the coronavirus crisis has shrunk the US economy at its worst rate since the Great Depression. Apple shares have been on the rise since April and have nearly doubled since the pandemic, reaching over $140 in January 2021. The iPhone maker’s stock is up almost 55% so far in 2020, and shares have rallied more than 106% since the market hit a low point amid the coronavirus recession in March 2020. Apple now accounts for about 7% of the total market value of the SandP 500. Financial results for the first quarter of the 2021 fiscal year were published just on January 27th. The company reported a record $111.4 billion in revenue, up 21% from a year ago. International sales accounted for 64% of revenue for the quarter. Apple’s board of directors announced a cash dividend of $0.205 per common share of the company.

AAPL Stock Forecasting Accuracy Powered by Artificial Intelligence

With the world’s uncertainty surrounding the virus in 2020, it was difficult to provide stock predictions for Apple stock. However, the marvelous predictive power of the I Know First proprietary algorithm for AAPL stock made a forecast with 73% accuracy. Generally, I Know First predictive algorithm’s precision was improving with the expansion of the time forecasting horizon – in most cases, the longer the time horizon was, the better results were observed. The below table provides a further detailed breakdown of the forecasting performance in terms of hit ratio by horizon:

Long and Short Strategy

3 Days

1 Week

2 Week

1 month

3 month

1 year

57%

65%

68%

62%

73%

100%

It is important that even the forecasts for the shortest time horizon have demonstrated a hit ratio well above the conventional machine learning waterline above 50%, while the average hit ratio across all the time horizons is 70%. According to the report, the highest hit ratio reached by the algorithm was 100% for 365-day time horizons for AAPL. This provided high forecasts’ robustness for I Know First clients to use those as the basis for investment decision-making amid that volatile time period.

The I Know First Predictive AI Algorithm

I Know First was recognized by Geneva WealthTech Forum as one of the top fintech companies and was one of the few which predicted GameStop and AMC stocks surge almost 3 months before the market faced it. The company developed and successfully deployed into action a proprietary AI-driven predictive algorithm that provides stock market forecasts for over 10,500 assets, including its dailyForex forecast andgold predictions. Moreover, the company also provides weeklyApple stock newsat the specially dedicated portal.

The algorithm is provided with market data that trails back 15 years to process every day, making sure its output reflects the up-to-date market conditions. By that our stock market forecasts represent a holistic approach to the market. I First algorithm treats global and local markets as a chaotic dynamic system, where a seemingly small event can have tremendous repercussions. So, it ensures that its models accurately reflect statistical patterns of the markets.

The algorithm also incorporates the genetic algorithms concept, allowing the system to keep track of its own successes and failures and re-configuring its models, as necessary. This ensures high algorithm’s adaptability to constantly changing market conditions reflected in the daily market data. The resulting design eliminates any potential human bias in the system making our stock market forecasts purely objective and statistically based.

The forecasts are delivered as an easy to interpret heatmap, which includes two numerical indicators, signal, and predictability. The former indicates if a given asset is expected to go up (positive values) or down (negative values), while the latter demonstrates how accurate the algorithm was in its past predictions for this specific asset. The algorithm generates predictions for six time horizons, varying from three days to one year, which makes it worthy both for short-term trading and for long-term investment.

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The MarketWatch News Department was not involved in the creation of this content.