Keep an eye on oversold shares of Apple (AAPL).
On Friday, the stock broke above double-top resistance and could potentially rally back to $330 a share, refilling its bearish gap.
Adding to the bullish case, analysts at Rothschild & Co. Redburn recently upgraded Apple to a Buy rating and set a $400 price target. Apple also has a major event coming up on September 9, where it is expected to unveil its latest hardware. There is growing speculation that Apple could finally introduce a foldable iPhone, along with new iPhone and Apple Watch models.
As noted by Seeking Alpha, the event is called “Surprise and shine” and will take place at the Steve Jobs Theater at Apple Park in Cupertino, California, at 1 p.m. ET.
The timing could be important for AAPL. A strong product launch, especially if Apple confirms a foldable iPhone, could give the stock another boost. Reportedly, foldable smartphones are only growing in popularity. In fact, as noted by Mac Rumors, “Global foldable smartphone shipments are expected to grow 20% in 2026 compared to last year, with Apple’s first entry into the category cited as one of the factors driving the increase.”
For now, investors have several things working in their favor: a recent technical breakout, a bullish analyst upgrade and a major product event just around the corner. Still, keep in mind that the foldable iPhone has not been officially confirmed by Apple, and the stock could remain volatile heading into the event.
Sincerely,
Ian Cooper
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