Apple shares close lower on Friday, Katherine Adams appointed as company’s new general counsel

According to the latest announcement by Apple Inc, Bruce Sewell will step down as the companys general counsel and will be succeeded by Katherine Adams, the former executive of Honeywell International Inc. She will also assume the post of senior vice president of legal and global security and will report to CEO Tim Cook.

Apple shares closed lower for the fourth time in the past nine trading sessions on Friday. The stock inched down 0.06% ($0.09) to $155.30, after touching an intraday high at $155.49, or a price level not seen since September 21st ($155.80).

In the week ended on October 8th the shares of the technological company added 0.77% to their market value compared to a week ago, which marked a second consecutive period of gains.

The stock has trimmed its advance to 0.77% so far during the current month, following a 6.02% slump in September. The latter has been the first drop in three months and also the sharpest one since April 2016.

For the entire past year, the shares of the NASDAQ-listed company rose 10.03%. The stock has gained 34.09% so far in 2017.

Having served as general counsel since 2009, Bruce Sewell is to step down at the end of this year. Reuters reminded that he was the person to guide the tech giant through a patent infringement lawsuit against Samsung Electronics related to design patents for the first iPhone.

Prior to becoming part of Honeywells team in 2003, Katherine Adams worked as an attorney at Sidley Austin LLP in New York. She is expected to take over a multinational dispute with Qualcomm Inc related to the way the latter licenses the technology it provides to Apple. It has been a practice for Qualcomm to charge a certain percentage of the total price of Apples devices as a licensing fee for mobile connectivity patent.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $180.00, with a high estimate of $208.00 and a low estimate of $140.00. The median estimate is a 15.90% surge compared to the closing price of $155.30 on October 6th.

The same media also reported that 24 out of 37 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 7 – 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 – $155.39
R2 – $155.47
R3 (Range Resistance – Sell) – $155.56
R4 (Long Breakout) – $155.81
R5 (Breakout Target 1) – $156.11
R6 (Breakout Target 2) – $156.23

S1 – $155.21
S2 – $155.13
S3 (Range Support – Buy) – $155.04
S4 (Short Breakout) – $154.79
S5 (Breakout Target 1) – $154.49
S6 (Breakout Target 2) – $154.37

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $154.42
R1 – $156.37
R2 – $157.45
R3 – $159.40
R4 – $161.36

S1 – $153.34
S2 – $151.39
S3 – $150.31
S4 – $149.24