Apple Shares Set for 10th Straight Weekly Gain, Approaching Record Highs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 8 hours ago
0mins
Source: seekingalpha
- Ten-Week Streak: Apple (AAPL) shares are on track for a 10th consecutive weekly gain, marking the first such streak since 2009, reflecting strong market demand and investor confidence that could further drive the stock price upward.
- Technical Breakthrough: AAPL has surpassed a long-standing ascending trendline, which now acts as a support level, and is trading above its 50-, 100-, and 200-week moving averages, indicating a firmly upward trend, although the recent gains appear somewhat stretched.
- Overbought Condition: The relative strength index is nearing 73, suggesting that Apple shares are in overbought territory, prompting investors to monitor whether the stock can maintain the former resistance line as support during any potential pullbacks.
- Historical Record: AAPL closed at $312.51 on Thursday but slightly pulled back to $311.22 by Friday midday; if the current momentum continues, it may challenge the record of 12 consecutive weekly gains set in 2004.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy AAPL?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on AAPL
Wall Street analysts forecast AAPL stock price to fall
27 Analyst Rating
17 Buy
9 Hold
1 Sell
Moderate Buy
Current: 312.510
Low
239.00
Averages
306.89
High
350.00
Current: 312.510
Low
239.00
Averages
306.89
High
350.00
About AAPL
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, Wearables, Home and Accessories. Its services include advertising, AppleCare, cloud services, digital content, and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its wearables include smartwatches, wireless headphones, and spatial computers. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Apple Increases Trade-In Values for Multiple Devices Ahead of WWDC
- Trade-In Value Increase: Apple has raised the trade-in values for several devices ahead of the Worldwide Developers Conference, with the iPhone 16 Pro Max increasing from $685 to $695, indicating confidence in upcoming product launches.
- iPad Trade-In Adjustments: The trade-in value for the iPad Pro has been raised from $670 to $690, and the iPad Air from $445 to $460, aiming to encourage consumers to upgrade and enhance market competitiveness.
- Mac Device Trade-In Changes: The trade-in value for the MacBook Pro increased from $685 to $690, while the iMac Pro decreased from $325 to $315, reflecting Apple's dynamic adjustments based on market demand to optimize inventory management.
- Smartwatch Trade-In Fluctuations: The trade-in value for the Apple Watch Ultra 2 rose from $295 to $305, although the Apple Watch Ultra dropped to $205 from $215, showcasing the complex competitive landscape in the smartwatch market.
See More
Microsoft's AI Business Surpasses $37 Billion Annual Revenue
- AI Revenue Surge: Microsoft's AI business has surpassed a $37 billion annual revenue run rate, demonstrating how AI demand is effectively translating into cloud and software revenue, thereby reinforcing its competitive advantage in the market.
- Stock Price Increase: Microsoft shares rose by 5.25% to close at $450.24, primarily driven by strong AI-driven revenue growth and robust performance in Xbox and software, reflecting investor confidence in the company's future growth prospects.
- Surge in Trading Volume: The trading volume reached 77.2 million shares, which is 124% above the three-month average, indicating a significant increase in market interest in Microsoft stock, potentially signaling optimistic investor sentiment regarding its future performance.
- In-House AI Model Development: Microsoft is preparing to develop more in-house AI models to cut costs and enhance flexibility, a strategy that not only helps control expenses but may also improve its pricing and margin advantages in AI workloads.
See More
Nvidia and Apple Announce Dividend Increases
- Nvidia's Dividend Surge: Nvidia raised its quarterly dividend from $0.01 to $0.25 per share, a staggering 2500% increase, while also boosting its share repurchase program by $80 billion, reflecting the company's strong performance in the AI sector and commitment to shareholder returns.
- Impressive Financials: Nvidia's Q1 report showed an 85% year-over-year revenue increase to $81.6 billion and net income exceeding $58.3 billion, with a net margin of 71%, indicating its leadership position in the AI chip market, despite not surpassing analyst expectations.
- Apple's Steady Dividend Growth: Apple announced a 4% increase in its quarterly dividend to $0.27 per share in its Q2 earnings release, demonstrating its commitment to shareholder returns amidst growth in both product and service revenues, even if the increase is less dramatic than Nvidia's.
- Optimistic Market Outlook: Apple's product sales have seen double-digit growth driven by its AI platform, although future growth may slow; nonetheless, with a market capitalization of $4.5 trillion and annual sales of $416 billion, it remains a solid choice for investors.
See More
Surge in Options Trading Volume for Apple and Coinbase
- Apple Options Volume: Apple Inc (AAPL) saw options trading volume of 1.1 million contracts, equivalent to approximately 113 million shares, representing a 225.4% increase over its average daily trading volume of 50.2 million shares in the past month, indicating strong market interest in its future performance.
- High Strike Activity: Notably, the $315 strike call option expiring on May 29, 2026, recorded a trading volume of 143,582 contracts today, representing about 14.4 million underlying shares, suggesting a significant bullish sentiment among investors regarding Apple's stock price.
- Coinbase Options Dynamics: Coinbase Global Inc (COIN) experienced options trading volume of 204,154 contracts, translating to approximately 20.4 million shares, which is 213.4% of its average daily trading volume of 9.6 million shares over the past month, reflecting positive market sentiment towards its future trajectory.
- Bullish Call Options: The $190 strike call option expiring on May 29, 2026, saw a trading volume of 13,657 contracts today, equivalent to about 1.4 million underlying shares, indicating investor optimism about Coinbase's future performance.
See More
Market Update: Stocks Steady Amid Oil Price Drop
- Market Performance Review: Despite falling oil prices, the S&P 500 and Nasdaq Composite remained steady in Friday's trading, with the S&P 500 up 5% and Nasdaq over 8% in May, reflecting the positive impact of a strong rally in AI stocks on the market.
- Amazon Satellite Plans Hit Snag: Amazon's Blue Origin experienced a rocket explosion during a launch test in Florida, with no satellites on board; however, this incident could delay the deployment of Amazon's planned low-Earth orbit broadband satellite network, impacting its competition with SpaceX's Starlink.
- Investor Focus: Amazon has deployed approximately 240 satellites over the past year, and while partnerships with multiple launch providers mitigate the risk of a single launch failure, potential delays in future launches could complicate the timeline for its commercial service, expected to start in Q3.
- M&A Update: An FCC filing revealed details of Amazon's acquisition of Globalstar, including the transfer of Apple's 20% stake, marking a significant step in Amazon's strategy to expand its satellite offerings into direct-to-device services.
See More
Meta Platforms: AI Investments Present New Opportunities
- Earnings Growth Potential: Meta Platforms has attracted over 3.5 billion users through its social media apps like Facebook, Instagram, and WhatsApp, leading to significant earnings growth driven by advertising revenue, which is expected to further enhance shareholder returns.
- AI Strategic Investment: Meta's substantial investments in AI, including building data centers and developing large language models, have been successfully integrated into its social media and advertising processes, likely improving ad effectiveness and increasing revenue while strengthening market competitiveness.
- New Revenue Streams: Meta has announced the rollout of consumer subscription plans that allow users to access special features, while also testing AI subscription services for businesses, which will provide a robust new revenue stream and cater to diverse user needs for future growth.
- Valuation Attractiveness: With a price-to-earnings ratio of 19, Meta is currently the cheapest among the Magnificent Seven, reflecting market caution regarding the monetization of its AI investments; however, as AI products are gradually launched, this could represent a key turning point for the stock.
See More
Apple Increases Trade-In Values for Multiple Devices Ahead of WWDC
- Trade-In Value Increase: Apple has raised the trade-in values for several devices ahead of the Worldwide Developers Conference, with the iPhone 16 Pro Max increasing from $685 to $695, indicating confidence in upcoming product launches.
- iPad Trade-In Adjustments: The trade-in value for the iPad Pro has been raised from $670 to $690, and the iPad Air from $445 to $460, aiming to encourage consumers to upgrade and enhance market competitiveness.
- Mac Device Trade-In Changes: The trade-in value for the MacBook Pro increased from $685 to $690, while the iMac Pro decreased from $325 to $315, reflecting Apple's dynamic adjustments based on market demand to optimize inventory management.
- Smartwatch Trade-In Fluctuations: The trade-in value for the Apple Watch Ultra 2 rose from $295 to $305, although the Apple Watch Ultra dropped to $205 from $215, showcasing the complex competitive landscape in the smartwatch market.
See More
Microsoft's AI Business Surpasses $37 Billion Annual Revenue
- AI Revenue Surge: Microsoft's AI business has surpassed a $37 billion annual revenue run rate, demonstrating how AI demand is effectively translating into cloud and software revenue, thereby reinforcing its competitive advantage in the market.
- Stock Price Increase: Microsoft shares rose by 5.25% to close at $450.24, primarily driven by strong AI-driven revenue growth and robust performance in Xbox and software, reflecting investor confidence in the company's future growth prospects.
- Surge in Trading Volume: The trading volume reached 77.2 million shares, which is 124% above the three-month average, indicating a significant increase in market interest in Microsoft stock, potentially signaling optimistic investor sentiment regarding its future performance.
- In-House AI Model Development: Microsoft is preparing to develop more in-house AI models to cut costs and enhance flexibility, a strategy that not only helps control expenses but may also improve its pricing and margin advantages in AI workloads.
See More
Nvidia and Apple Announce Dividend Increases
- Nvidia's Dividend Surge: Nvidia raised its quarterly dividend from $0.01 to $0.25 per share, a staggering 2500% increase, while also boosting its share repurchase program by $80 billion, reflecting the company's strong performance in the AI sector and commitment to shareholder returns.
- Impressive Financials: Nvidia's Q1 report showed an 85% year-over-year revenue increase to $81.6 billion and net income exceeding $58.3 billion, with a net margin of 71%, indicating its leadership position in the AI chip market, despite not surpassing analyst expectations.
- Apple's Steady Dividend Growth: Apple announced a 4% increase in its quarterly dividend to $0.27 per share in its Q2 earnings release, demonstrating its commitment to shareholder returns amidst growth in both product and service revenues, even if the increase is less dramatic than Nvidia's.
- Optimistic Market Outlook: Apple's product sales have seen double-digit growth driven by its AI platform, although future growth may slow; nonetheless, with a market capitalization of $4.5 trillion and annual sales of $416 billion, it remains a solid choice for investors.
See More
Surge in Options Trading Volume for Apple and Coinbase
- Apple Options Volume: Apple Inc (AAPL) saw options trading volume of 1.1 million contracts, equivalent to approximately 113 million shares, representing a 225.4% increase over its average daily trading volume of 50.2 million shares in the past month, indicating strong market interest in its future performance.
- High Strike Activity: Notably, the $315 strike call option expiring on May 29, 2026, recorded a trading volume of 143,582 contracts today, representing about 14.4 million underlying shares, suggesting a significant bullish sentiment among investors regarding Apple's stock price.
- Coinbase Options Dynamics: Coinbase Global Inc (COIN) experienced options trading volume of 204,154 contracts, translating to approximately 20.4 million shares, which is 213.4% of its average daily trading volume of 9.6 million shares over the past month, reflecting positive market sentiment towards its future trajectory.
- Bullish Call Options: The $190 strike call option expiring on May 29, 2026, saw a trading volume of 13,657 contracts today, equivalent to about 1.4 million underlying shares, indicating investor optimism about Coinbase's future performance.
See More
Market Update: Stocks Steady Amid Oil Price Drop
- Market Performance Review: Despite falling oil prices, the S&P 500 and Nasdaq Composite remained steady in Friday's trading, with the S&P 500 up 5% and Nasdaq over 8% in May, reflecting the positive impact of a strong rally in AI stocks on the market.
- Amazon Satellite Plans Hit Snag: Amazon's Blue Origin experienced a rocket explosion during a launch test in Florida, with no satellites on board; however, this incident could delay the deployment of Amazon's planned low-Earth orbit broadband satellite network, impacting its competition with SpaceX's Starlink.
- Investor Focus: Amazon has deployed approximately 240 satellites over the past year, and while partnerships with multiple launch providers mitigate the risk of a single launch failure, potential delays in future launches could complicate the timeline for its commercial service, expected to start in Q3.
- M&A Update: An FCC filing revealed details of Amazon's acquisition of Globalstar, including the transfer of Apple's 20% stake, marking a significant step in Amazon's strategy to expand its satellite offerings into direct-to-device services.
See More
Meta Platforms: AI Investments Present New Opportunities
- Earnings Growth Potential: Meta Platforms has attracted over 3.5 billion users through its social media apps like Facebook, Instagram, and WhatsApp, leading to significant earnings growth driven by advertising revenue, which is expected to further enhance shareholder returns.
- AI Strategic Investment: Meta's substantial investments in AI, including building data centers and developing large language models, have been successfully integrated into its social media and advertising processes, likely improving ad effectiveness and increasing revenue while strengthening market competitiveness.
- New Revenue Streams: Meta has announced the rollout of consumer subscription plans that allow users to access special features, while also testing AI subscription services for businesses, which will provide a robust new revenue stream and cater to diverse user needs for future growth.
- Valuation Attractiveness: With a price-to-earnings ratio of 19, Meta is currently the cheapest among the Magnificent Seven, reflecting market caution regarding the monetization of its AI investments; however, as AI products are gradually launched, this could represent a key turning point for the stock.
See More
