Last week Apple Inc (AAPL) announced that some issues had been discovered, which affect some of its iPhone X and 13-inch MacBook Pro devices. The issues would be resolved free of charge, Apple also said.
Apple shares closed lower for a third consecutive trading session on NASDAQ on Monday. It has also been the steepest daily loss since November 2nd. The stock went down 5.04% ($10.30) to $194.17, after touching an intraday low at $193.80, or a price level not seen since July 31st ($189.34).
Shares of Apple Inc have surged 14.74% so far in 2018 compared with a 1.97% gain for the benchmark 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.
According to Apple, owners of iPhone X, which was released in 2017 with its price starting from $999, may encounter touch issues with their devices display because of a component failure. The displays of affected devices may not respond properly when touched by users, Apple said. In other cases, displays may react even when users do not touch them.
The tech giant said that only its original iPhone X had been affected by such an issue. iPhone XS and XR models, which came out this year, supersede the original iPhone X.
As far as Apples 13-inch MacBook Pro devices are concerned, the issue found may lead to loss of data or storage drive failure. According to the tech company, the issue affected only a restrained number of 128-gigabyte and 256-gigabyte Solid State Drives in 13-inch MacBook Pro computers, which it sold during the period June 2017 to June 2018.
According to CNN Money, the 35 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $235.00, with a high estimate of $310.00 and a low estimate of $165.00. The median estimate represents a 21.03% upside compared to the closing price of $194.17 on November 12th.
The same media also reported that 23 out of 41 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.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:
Central Pivot Point – $204.25
R1 – $210.34
R2 – $216.20
R3 – $222.29
R4 – $228.37
S1 – $198.39
S2 – $192.30
S3 – $186.44
S4 – $180.57
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