Apple (AAPL) Stock Price and Forecast: Can new iPhone and iPad lift the stock?


  • Apple investor day sees new products launched on Tuesday.
  • AAPL launches new iPhones and iPad with faster processors.
  • The tech giant stock closed lower as indices struggle for momentum.

Apple had its much-anticipated product day on Tuesday where it launched a slew of new products. Apple launched a new iPhone SE from $399, while the higher-spec iPhone 13 hits the pocket for $799. Those with deeper pockets can stretch to $1099 for the iPhone Max. The new iPhone has a new chip for faster processing speed, an improved camera and a better battery. The new battery life is expected to give iPhone users over twice as long and up to 2.5 times as long for battery life. The new iPhone 13 is to cost $799 the same as the iPhone 12, but users will get double the storage as well as the aforementioned better battery life. 

Apple launched a new Apple Watch featuring a slightly larger screen, which will cost from $399, with availability set for the autumn. A new iPad Mini was also debuted with 5G technology and a USB-C port with the display improving over the previous model with edge-to-edge display. The iPad mini will start at $499. 

AAPL 15-minute chart

The event day was not enough to stop the Apple stock price from further losses, as it continues to retreat from all-time highs. The stock, as we can see above in the 15-minute chart, was weak throughout the session with hardly a bounce insight and closed toward the low end of the day range at $148.12, for a loss of nearly 1%. Nothing too serious but the stock has been struggling for momentum since reaching all-time highs earlier in September. 

Apple key statistics

Market Cap $2.5 trillion
Enterprise Value $2.3 trillion
Price/Earnings (P/E) 29

Price/Book

38
Price/Sales 9
Gross Margin 41%
Net Margin 25%
EBITDA $112 billion
52 week low $103.10
52 week high $157.26
Average Wall Street rating and price target

Buy $166.7

 

Apple stock forecast

Apple has now retraced to an area of volume support with the volume profile bars showing us that this zone can be used as a buy-the-dip opportunity. Volume is high until $144.50. If you are to buy the dip around here, take caution and we would likely put a stop near the $144.50 support. If this goes, then Apple has a good chance of breaking sharply lower as there is very little volume until $134. AAPL stock is now neutral in our view, as it has broken the short term moving averages, the 9 and 21-day and the momentum oscillators, Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) have turned lower. 

AAPL is neutral at current levels, bearish below $144.50, bullish above $155 in FXStreet's view.

AAPL daily chart

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