It takes something to be the no 1 company.
AAPL shares experienced its largest single-day stock drop since August recently, attributed to a 17% decrease in iPhone shipments in China for 2024—the most significant decline since 2016—as competitors like Vivo and Huawei gained market share.
Despite this setback, the stock rebounded by 1.2% on Friday.
Analysts have mixed views: Evercore ISI maintains an "Outperform" rating with a $250 price target, citing strong services and potential iPhone sales improvement, while Raymond James analysts express concerns over foreign exchange impacts on future guidance.
Technical analysis indicates key support at $218, aligning with the 200-day moving average, and resistance around $235, with potential to reach $250 if recovery continues.
Additionally, some contrarian investors caution that large-cap U.S. stocks like Apple may underperform over the next decade due to high valuations, suggesting alternatives such as gold and silver mining shares or Brazilian stocks.
Given these factors, it's advisable to monitor upcoming earnings reports and market trends closely. Consulting with a financial advisor can help determine if investing in Apple aligns with your individual financial goals and risk tolerance.
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