Market Analysis: AAPL Share Price Hits All-time High

FXOpen

AAPL's price topped USD 189/share yesterday, coming close to the psychological USD 190/share level. Since the beginning of the year, the AAPL price has risen by about 50%.

The bullish momentum is fueled by both the AI hype and the improvement in Apple's product line:

→ Apple Watch Ultra and iPhone 15 expected this fall.

→ According to CNBC, the company is working on a second-generation Vision Pro, as well as a cheaper model of a virtual reality helmet.

→ The line of laptops will be replenished with models with the M3 processor.

The AAPL stock chart shows that the price has said goodbye to the down channel (shown in red), showing a strong pattern near the USD 175 level — first acting as resistance, then providing support (indicated by arrows).

If the bullish momentum continues, we will soon see the company's capitalization reach USD 3 trillion.

Of the 42 analysts surveyed by MarketWatch, only 1 gives a sell rating to AAPL stock. By the way, news about the increase in the target price of the AAPL share is likely to follow soon, its average value, according to analysts, is USD 187.19 today, which is already lower than the current values.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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