According to a report by Bloomberg, Apple Inc is developing device screens of its own by utilizing MicroLED (µLED) technology. The media also said that small numbers of the displays have already been manufactured for testing purposes.
Apple shares closed lower for a second consecutive trading session on Monday. It has also been the steepest daily loss since March 1st. The stock went down 1.53% ($2.72) to $175.30, after touching an intraday low at $173.69, or a price level not seen since March 2nd ($172.45).
In the week ended on March 18th the shares of the technological company lost 1.09% of their market value compared to a week ago, which marked the first drop out of five weeks.
The stock has extended its loss to 1.58% so far during the current month, following a 6.38% surge in February. The latter has been the first gain out of three months and also the largest one since October 2017.
For the entire past year, the shares of the NASDAQ-listed tech company rose 46.11% following another 10.03% surge in 2016.
What is specific about MicroLED displays is that they are thinner, offer up to 30 times higher total brightness, have improved durability and also use less power in comparison with the OLED screens. Both OLED and MicroLED technologies are mostly aimed at small, low-energy devices such as smartphones and smartwatches.
Some analysts, however, are rather skeptical about the new technology.
”It is not clear whether MicroLED will be better than the OLED displays Apple uses for its smartwatches”, Dongbu Securities analyst S.R. Kwon was quoted as saying by Reuters.
”At this point, this seems to me that Apple wants to show off – its more of what look what we can do rather than a realistic alternative”, Kwon added.
According to Bloomberg, Apple intends to use the next-generation tech in its wearable computers initially, while it may not be introduced in an iPhone device for at least 3-5 years.
By citing sources with knowledge of the matter, Bloomberg also reported that Apple’s MicroLED displays were being developed at an undisclosed facility in California, while the entire project was being overseen by Lynn Youngs, the person in charge of Apple Watch and iPhone display technology.
According to CNN Money, the 31 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $198.00, with a high estimate of $220.00 and a low estimate of $152.00. The median estimate is a 12.95% surge compared to the closing price of $175.30 on March 19th.
The same media also reported that 22 out of 39 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 13 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Apple stock are presented as follows:
R1 – $175.64
R2 – $175.99
R3 (Range Resistance – Sell) – $176.33
R4 (Long Breakout) – $177.37
R5 (Breakout Target 1) – $178.58
R6 (Breakout Target 2) – $179.09
S1 – $174.96
S2 – $174.61
S3 (Range Support – Buy) – $174.27
S4 (Short Breakout) – $173.23
S5 (Breakout Target 1) – $172.02
S6 (Breakout Target 2) – $171.51
By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:
Central Pivot Point – $179.71
R1 – $181.81
R2 – $185.59
R3 – $187.69
R4 – $189.78
S1 – $175.93
S2 – $173.83
S3 – $170.05
S4 – $166.26
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