Apple Shares Set for 10th Straight Weekly Gain, Approaching Record Highs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20 minutes 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.
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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.
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- 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.
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- 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.
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See More
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- 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.
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See More
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- Historical Comparison: Rocco compares the current investment surge to historical events such as the railroad buildout and World War II military expansion, emphasizing that the scale of spending has a significant impact on GDP, indicating that tech companies are actively positioning themselves for future competition.
- Market Drivers: As major tech companies like Nvidia ramp up their investments in AI, the demand for data centers is also increasing, which not only boosts the stock prices of related firms but also fosters technological advancements and market expansion across the industry.
- Intensified Competitive Pressure: Rocco notes that tech companies are investing in AI not just for short-term returns but to maintain a competitive edge, with firms willing to take risks and increase spending rather than fall behind in this technological race.
See More
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- R&D Investment Priority: Despite the dividend hike, Nvidia prioritizes R&D, planning to invest heavily in the coming years to support growth in AI, especially after launching its Vera CPU, which is expected to tap into a $200 billion addressable market.
- Long-Term Growth Potential: While Nvidia's dividend profile may not compare favorably to traditional high-dividend stocks, it remains a highly attractive long-term growth stock, with projected CPU revenues of around $20 billion by year-end, capitalizing on the ongoing growth in AI infrastructure spending.
See More
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- Investment in Growth: Despite the dividend hike, Nvidia prioritizes R&D investments, particularly in the AI sector, to maintain its leadership in the GPU market, ensuring it can navigate intensifying competition and secure future market share and competitive advantages.
- Intensifying Market Competition: With competitors like Cerebras Systems emerging, Nvidia faces increasing pressure in the AI industry, especially as the focus shifts from training to inference, necessitating continuous innovation to uphold its market position.
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See More
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- Alphabet's Diversified Growth: Alphabet's annual revenue surged from $258 billion to nearly $403 billion over the past five years, with its core search engine and cloud services performing strongly, laying a solid foundation for future growth despite some businesses not yet being profitable.
- Apple's Market Leadership: With a market value exceeding $700 billion, Apple remains a significant holding for Berkshire, as its products and services continue to thrive, particularly in the services ecosystem, ensuring future growth potential.
- Coca-Cola's High-Profit Model: Coca-Cola operates with net profit margins in the mid-20% range and has consistently increased its dividends, earning the title of 'Dividend King', with a business model that relies on selling foundational syrups, ensuring stable cash flow and long-term investor returns.
See More
