Consumer Discretionary

September 11, 2023 Update: Starbucks (NASDAQ:SBUX) Stock Technical Analysis From the analysis of the chart, the current stock price is in the range of $93-$105 fluctuating, short-term stock prices are in the range fluctuation lower line of $93, can participate in a small number of positions to participate in the rebound market, recommended buying price of $94, selling price of $99, target price of $100, stop loss price of $93, but not much space, short-term breaking price of $93, if effectively broken, may fall to the range of $85-$88, but the overall decline space is limited, is expected to not exceed 10%. Daily candlestick chart From the fundamental analysis of financial statements Third-quarter revenue of $9.168 billion, up 12.49% year-over-year, market expectations of $9.28 billion, net profit of $1.142 billion, up 25.1% year-over-year, adjusted earnings per share of $1, better than market expectations of $0.95, compared to $0.79 in the

Starbucks’ revenue in the Chinese market rose 51% year over year in the fiscal third quarter of 2023 on the back of an increase in same-store sales. The Seattle-based coffee chain’s China revenue jumped to $821.9 million in the three months ended July 2, from $544.5 million a year earlier, according to a release on Tuesday. Comparable sales climbed 46% year over year, driven by a 48% growth in comparable transactions, which offset the 1% decline in average ticket sales. “In China, we hit the highest number of 90-day active users we have ever had at over 20 million Starbucks Rewards customers. This is further evidence of our brand strength, relevance, and customer engagement in the market,” said Starbucks CEO Laxman Narasimhan during an earnings call.