According to an announcement by Apple Inc last week, it is to host an event at the Steve Jobs Theater in Cupertino, California on September 12th.
Analysts largely expect the tech giant to reveal new iPhone models at the event.
Apple shares closed higher for a seventh consecutive trading session on NASDAQ on Friday. The stock went up 1.16% ($2.60) to $227.63, after touching an intraday high at $228.87 and also a fresh all-time high.
Shares of Apple Inc have surged 34.51% so far in 2018 compared with an 8.52% gain for the underlying index, S&P 500 (SPX).
In 2017, Apple’s stock gained 46.11%, thus, it again outperformed the S&P 500, which registered a 19.42% return.
Apple is believed to be planning the launch of three new smart phones in 2018, including a device that has a larger display compared to prior models.
The company is also expected to launch an iPhone having an edge-to-edge display and utilizing less expensive LCD screen technology compared to the iPhone X.
According to a report by Reuters, citing documents filed at the US Federal Communications Commission, the tech company has sought approval for a gold variation of the iPhone X, but the device has not yet been made available in such a color. In 2017, the iPhone X was released in gray and silver colors only.
Last week, tech news website 9to5Mac posted images of two iPhone models in gold stacked on top of each other, with the device having a larger display being at the bottom. The two devices bore a resemblance to the current iPhone X.
According to the website, Apples new flagship model is to be called iPhone XS.
9to5Mac also claimed the images showed actual planned products by Apple. On the other hand, the tech giant did not say whether the photographs were authentic or not.
According to CNN Money, the 34 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $215.00, with a high estimate of $275.00 and a low estimate of $165.00. The median estimate represents a 5.55% downside compared to the closing price of $227.63 on August 31st.
The same media also reported that 21 out of 39 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 14 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, Tuesday’s levels of importance for the Apple stock are presented as follows:
R1 – $227.89
R2 – $228.16
R3 (Range Resistance – Sell) – $228.42
R4 (Long Breakout) – $229.21
R5 (Breakout Target 1) – $230.13
R6 (Breakout Target 2) – $230.52
S1 – $227.37
S2 – $227.10
S3 (Range Support – Buy) – $226.84
S4 (Short Breakout) – $226.05
S5 (Breakout Target 1) – $225.13
S6 (Breakout Target 2) – $224.74
By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:
Central Pivot Point – $224.28
R1 – $232.22
R2 – $236.82
R3 – $244.76
R4 – $252.71
S1 – $219.68
S2 – $211.74
S3 – $207.14
S4 – $202.55
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