$262 Hit Record High – Strong Product Cycle Drives Momentum
$Apple(AAPL)$ closed at $262.24, up 3.96%, just 0.8% below its 52-week high of $264.38.
Shares have rebounded ~8% from October lows, leading Nasdaq’s recovery.
Key Highlights
1️⃣ iPhone 17 demand exceeded expectations (+6% shipments, TF International).
2️⃣ Bloomberg reported Apple plans to integrate Generative AI into Siri by 2026, renewing ecosystem valuation.
Technical Analysis
Volume was ~30% above the 20-day average; RSI 76 (nearly overbought).
MACD shows sustained up momentum. EMA 10 > EMA 30 maintains a strong bullish channel.
1-Week Outlook
Holding above $264 targets USD 270–272; pullback support at $253–248.
Key Levels
Resistance: $264 / 270
Support: $253 / 248
Valuation
TTM P/E ≈ 38 times, slightly above the S&P average; robust cash flow and buy-backs anchor valuation.
Target Price
Morgan Stanley target $310; Wedbush $315.
Risk Note
Supply-chain disruptions or AI roll-out delays could trigger short-term correction.
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