According to a report by Economic Daily News, production of all models of Apple Incs (AAPL) upcoming iPhones will probably be delayed. Mass production of the lower end iPhone 7 and iPhone 7s is to start in August, which would be a one-month delay from the companys normal schedule.
Apple shares closed higher for a seventh consecutive trading session on Monday. The stock edged up 0.35% ($0.52) to $149.56, after touching an intraday high at $150.90, or a price level not seen since June 9th ($155.19). In the week ended on July 16th the shares of the technological company added 3.37% to their market value compared to a week ago, which marked a second consecutive period of gains and also the sharpest one since the week ended on May 14th. The stock has extended its advance to 3.85% so far during the current month, following a 5.72% slump in June. The latter has been the steepest monthly drop since April 2016. For the entire past year, the shares of the NYSE-listed company gained 10.03%.
Apples premium iPhone 8, which is to include an OLED screen, may be released in stores in November, with Foxconn being the production group responsible for the majority of orders.
iPhone 8 have long been expected to face production delays as a result of problematic supply of the OLED screens, fingerprint sensors and circuit boards.
According to CNN Money, the 39 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $165.00, with a high estimate of $202.00 and a low estimate of $120.00. The median estimate is a 10.32% surge compared to the closing price of $149.56 on July 17th.
The same media also reported that 27 out of 44 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 11 – 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, today’s levels of importance for the Apple stock are presented as follows:
R1 – $149.77
R2 – $150.00
R3 (Range Resistance – Sell) – $150.20
R4 (Long Breakout) – $150.84
R5 (Breakout Target 1) – $151.59
R6 (Breakout Target 2) – $151.91
S1 – $149.35
S2 – $149.13
S3 (Range Support – Buy) – $148.92
S4 (Short Breakout) – $148.28
S5 (Breakout Target 1) – $147.53
S6 (Breakout Target 2) – $147.21
By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:
Central Pivot Point – $147.25
R1 – $151.12
R2 – $153.21
R3 – $157.08
R4 – $160.96
S1 – $145.16
S2 – $141.29
S3 – $139.20
S4 – $137.12
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