Chart of the Day: Apple (AAPL)

Posted by Ian Cooper | Apr 10, 2024 | Chart of the Day | 0 |

Apple (AAPL) looks appealing at current prices.

Last trading at $169.67, it’s back to strong support, where it typically bounces back. Helping, Wedbush analyst Dan Ives has an outperform rating on the stock, with a price target of $250.

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As noted by Barron’s: Apple’s Worldwide Developers Conference, is scheduled for June 10 to June 14. Investors are hoping the company highlights AI initiatives during its presentation. Then the launch of the iPhone 16 should come sometime this fall. Ives wrote that “pent-up demand around an upgrade cycle could exceed 270 million iPhones heading into iPhone 16.”

Our initial price target on AAPL is $175.

Sincerely,

Ian Cooper

About The Author

Ian Cooper

Ian Cooper is an expert options trader with decades of experience, and a special talent for predicting big market moves. Together with TradeWins Publishing, Ian shares exactly how you can follow in his footsteps to potentially find huge profits in today's markets.