Apple Inc. (Public, NASDAQ:AAPL) 10K Filing Lowers Gross Margin Forecast to 36%

AAPL saw some selling in AH on gross margin comments in 10-K filing. They see Q1 gross margin at 36% vs. 37.5% consensus. "The Company expects its gross margin percentage to decrease in future periods compared to levels achieved during 2010 and anticipates gross margin levels of about 36% in the first quarter of 2011. This expected decline is largely due to a higher mix of new and innovative products that have higher cost structures and deliver greater value to customers, and expected and potential future component cost and other cost increases." Consensus calls for 37.5% in Q1, up from 36.9% in Q4.

As you can see from the chart above, prices quickly swooned to $304.00 when that news was released, but have since recovered back above today's regular session lows.

On the daily timeframe, we see three key levels of interest, interim resistance at $315, support at $300 and 20 ema, followed by former resistance at $294. A retest of the psych level $300 will probably bring in buyers. The gross margin issue, might force that level, sooner than later. We'll see how it opens tomorrow.

Before reading the 10k filing news, I had mapped out current levels of interest on the 15 minute chart below.