Pro Charts: Stocks & ETFs

Apple Downside Target Price

Updated: Mar 23, 2024 | Published: Mar 23, 2024
Verified Investing
By Verified Investing
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.