Apple Downside Target Price

Published At: Mar 23, 2024 by Gareth Soloway
Apple Downside Target Price

Apple Inc. (AAPL) has shown significant weakness after multiple negative headlines, including the DOJ suing them for being a monopoly. With revenue declining and earnings not blowing out estimates, Apple has resorted to share buybacks to keep their stock price from going into freefall. While this helps in the long-term, near-term there is likely continued stock price weakness. Based on technical analysis, Apple will likely fall to major support of $160. There is a confluence of support trend lines seen in the chart that merge at this level. The $160 share price is also the 50% retrace of the Jan 2023 low and the all-time high.

Assuming there is no recession, this could be a major bounce level on Apple stock.

Trading involves substantial risk. All content is for educational purposes only and should not be considered financial advice or recommendations to buy or sell any asset. Read full terms of service.

Sponsor
Paramount Pixel Lead