2024-04-15 12:09:53 ET
Summary
- Apple Inc. remains under pressure amid soaring headwinds of regulatory pressure and iPhone saturation.
- iPhone sales are under pressure amid stiff competition and a depressed upgrade cycle in China.
- The service sector emerges as a bright spot, offsetting losses on the hardware front.
- The stock recently rebounded from support near $175, with the potential to reach $185 before another support test.
- Apple's stock could rise to $240 by the end of 2024, facing key resistance levels at $195 and $215.
Investment Thesis
Apple Inc. ( AAPL ) has lost the title of the world's most valuable company, hitting its worst performance in over a decade. So far this year, the firm's stock has been down approximately 5%. Meanwhile, Microsoft ( MSFT ) has surged by over 13%, overtaking Apple to the top global market value....
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Apple's Technical Climb To $240 By Year-End