Can Apple (AAPL) Stock Impress Investors After iPhone 17 Launch?

We recently published Top 10 Analyst Calls on Trending Stocks You Shouldn’t Miss. Apple Inc is one of the major analyst calls.

Apple stock is trending after the company revealed its new iPhone. Only time would tell whether the company can impress investors with its AI strategy and see strong iPhone sales.

Katie Stockton, Fairlead Strategies managing partner, said in a program on CNBC in early August that Apple Inc would need to break the resistance level of $216 to unlock more share price growth. She was sharing her thoughts on the stock jump following the company’s pledge for an additional $100 billion US investment.

“The sentiment got pretty bullish, of course, in July. So, I think the market’s suffering a bit underneath that overly bullish sentiment indication. So, not only do we need to see sentiment shift and shift uh sort of meaningfully in favor of upside followthrough, we want to see momentum behind the move. And in order for that breakout to be confirmed, meaning not only we see Apple get above it, but hold above it, that would require a momentum shift because it’s been very much neutral. The choppiness that we’ve seen in Apple has been very neutral. And as it has gone sideways overall, it’s actually continued to underperform overall versus the S&P 500.”

Apple is up 4.5% since the analyst’s comments.

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This article is originally published at Insider Monkey.