Apple Stock News and Forecast: AAPL hits $180, is $200 next?
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- Apple (AAPL) shares have been rising steadily this past week.
- Apple stock makes more all-time highs on Friday.
- Apple is now very close to hitting $200 before year-end.
Apple stock pushed on again on Friday, this time nudging another 2.8% onto an already impressive suite of gains this past week. Apple made four new all-time highs last week and three all-time high closes. The stock added just under $20 to its share price in the last week and a similar performance this week will see it all the way to $200. However, it is now getting dangerously close to overbought on the relative strength index so some caution is warranted. The Santa rally is in play.
Apple (AAPL) chart, 15 minute
Apple (AAPL) stock news
The 15-minute chart above shows the strong trend, with gains of just under 10% for the week. Apple is already looking higher in Monday's premarket with the stock at $181.35. While we called for the stock to hit $200 before year-end, Loup Ventures analyst Gene Munster now says his $200 target was too conservative. Certainly, the latest twist in the so-called Epic games case helped Apple shares. Apple won a reprieve from a US court so that it does not have to implement changes to its app store until after the appeal. An appeal could take several years to hear.
Apple (AAPL) stock forecast
We are still stuck with our $200 target before year end. Markets are obsessed with round numbers and this one is in sight now. Momentum remains strong, seasonality favors gains into year-end, the so-called Santa rally and Apple should see strong holiday sales. Network carriers are offering strong discounts for the latest iPhone and consumers have held off ordering until supply lines improved. Apple has done this by shifting components from iPad to higher demand iPhones. The semiconductor shortage is still a concern longer term for Apple. Technically the stock is close to 80 on the relative strength index which is overbought. A period of consolidation may be needed to correct this before year-end. Apple is also quite stretched from its 9-day moving average, again a sign of overbought conditions. However, with futures again pointing to gains and European markets strong we can see more gains in store. Fears of omicron may resurface that is the only short-term headwind we see.
Apple daily chart
Like this article? Help us with some feedback by answering this survey:
- Apple (AAPL) shares have been rising steadily this past week.
- Apple stock makes more all-time highs on Friday.
- Apple is now very close to hitting $200 before year-end.
Apple stock pushed on again on Friday, this time nudging another 2.8% onto an already impressive suite of gains this past week. Apple made four new all-time highs last week and three all-time high closes. The stock added just under $20 to its share price in the last week and a similar performance this week will see it all the way to $200. However, it is now getting dangerously close to overbought on the relative strength index so some caution is warranted. The Santa rally is in play.
Apple (AAPL) chart, 15 minute
Apple (AAPL) stock news
The 15-minute chart above shows the strong trend, with gains of just under 10% for the week. Apple is already looking higher in Monday's premarket with the stock at $181.35. While we called for the stock to hit $200 before year-end, Loup Ventures analyst Gene Munster now says his $200 target was too conservative. Certainly, the latest twist in the so-called Epic games case helped Apple shares. Apple won a reprieve from a US court so that it does not have to implement changes to its app store until after the appeal. An appeal could take several years to hear.
Apple (AAPL) stock forecast
We are still stuck with our $200 target before year end. Markets are obsessed with round numbers and this one is in sight now. Momentum remains strong, seasonality favors gains into year-end, the so-called Santa rally and Apple should see strong holiday sales. Network carriers are offering strong discounts for the latest iPhone and consumers have held off ordering until supply lines improved. Apple has done this by shifting components from iPad to higher demand iPhones. The semiconductor shortage is still a concern longer term for Apple. Technically the stock is close to 80 on the relative strength index which is overbought. A period of consolidation may be needed to correct this before year-end. Apple is also quite stretched from its 9-day moving average, again a sign of overbought conditions. However, with futures again pointing to gains and European markets strong we can see more gains in store. Fears of omicron may resurface that is the only short-term headwind we see.
Apple daily chart
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.