Keep an eye on Apple (AAPL).
After dropping from about $195 to a low of $168.49, the tech giant appears to have caught strong triple-bottom support dating back to September. The stock is also technically over-extended on RSI, MACD, and Williams’ %R. From its current price of $170.73, we’d like to see Apple initially refill its gap around $180.
In addition, we have to consider that Apple could soon get swept up in the artificial intelligence boom. The company sees “incredible breakthrough potential for generative AI, which is why we’re currently investing significantly in this area,” Cook said, as quoted by CNBC. “We believe it will unlock transformative opportunities for our users when it comes to productivity, problem-solving and more.”
While the company hasn’t unveiled any new products just yet, it’s coming. And it could help push Apple shares higher again soon.