Keep an eye on Apple (AAPL).
After a vicious pullback from about $175 to $161.38, it could push higher heading into its September 7 iPhone 14 launch event. Even Wedbush analyst Dan Ives is bullish, noting that supply checks on Apple appear to be “very firm” as far as the initial order for 90 million iPhones is concerned, as noted by Street Insider.
“This speaks to the underlying demand story that Apple anticipates for this next iPhone release with our estimates that 240 million of 1 billion iPhone users worldwide have not upgraded their phones in over 3.5 years,” Ives added.
From a current price of $161.38, we’d like to see AAPL again challenge $175, near-term.