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.

Ivan Brian FXStreet

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

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

AUD/USD struggles to recover as hawkish Fed bets escalate

The Australian Dollar is under pressure against the US Dollar as traders have raised bets supporting interest rate hikes by the Federal Reserve this year, with the AUD/USD pair posting a fresh almost eight-week low at around 0.7025. Hawkish Fed bets have accelerated following the release of the surprisingly strong United States Nonfarm Payroll (NFP) data for May.

USD/JPY holds higher ground toward 160.50 despite 'Yentervention' fears

USD/JPY holds higher ground toward 160.50 in Monday's Asian trading, despite intervention fears. Japan’s revised GDP print, which confirmed that the economy lost momentum in the first quarter, weighs on the Japanese Yen. Meanwhile, Friday's upbeat US NFP report and fresh Israel-Iran attacks favor the US Dollar bulls, underpinning the currency pair.

Gold remains heavy near $4,300 on Mideast woes, Fed rate hike bets

Gold remains vulnerable near $4,300 in European trading on Monday, following a modest Asian bounce to the $4,350-$4,355 area. Renewed hostilities in the Gulf push Crude Oil prices higher, fanning inflationary concerns and bolstering bets for more hawkish central banks. That weighs negatively on the Gold, as it mires in three-month lows.

Solana: ETF outflows and bearish sentiment reinforce downside risks

Solana (SOL) remains under pressure, trading below $66 on Monday after losing nearly 20% in the previous week. Institutional demand weakened with spot Exchange Traded Funds recording a net outflow of over $6.5 million last week, snapping a four-week streak of inflows.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.