Where is Apple Stock Heading After iPhone 14 Launch

Apple Stock Up On iPhone 14 Launch
Apple Stock Up On iPhone 14 Launch

Key Apple Takeaways:

  • Apple launched a new iPhone, and demand is strong.
  • Investors happy with pre-order data are rewarded with a higher stock price.
  • Supplementary divisions of Apple reported good results as well.

Apple launched the new iPhone 14 on Sep. 15. Demand looks strong over the flagship phone’s new dual-camera system and Crash Detection, Emergency SOS safety service via satellite, and the best battery life.

Apple (AAPL) stock began the year strong in January at an all-time split-adjusted high of $182.94 per share, then gradually dropped to $130 by mid-June. Since June, investors have, for the most part, been buyers of the stock.

In the June quarter, Apple reported services rose 12% Year over Year (YOY), with profits totaling $19.6 billion. Wearables dipped 8% in the same quarter but still had a healthy profit of $8.08 billion.
AAPL daily price chart. Source: TradingView

It’s not all roses for AAPL, as the YTD high is down $26, but things for Apple are headed in the right direction.

A week ago, AAPL was at $153.11 and gradually climbed to a high of $164.15 this past Monday – trading is now near $156. The current share price is at its highest since May 27.

Pre-order data showed iPhone 14 demand was the highest for any previous model. Apple’s strategic pricing played a key role in pushing sales. Company executives wisely kept pricing the same as last year’s iPhone 13. As a result, the iPhone 14 starts at $799, while the iPhone Plus is $899.

Apple Stock Price Forecast

Things are looking up for Apple as 37 analysts offered a 12-month median price forecast of $185, according to money.cnn.com.

The forecast comes with an 18% increase over today’s current price – nice bang for your buck! Analysts mentioned a low estimate of $122, but we will not pay too much attention and stay optimistic! The average ten and 30-year S&P 500 returns are 10%; a possible 18% from APPL is nearly double that number – hence the optimism!

Apple stock forecast. Source: CNN
Apple stock forecast. Source: CNN

Seasoned Investors Want To See More Than a Phone

Savvy investors need to see depth for their money.

In addition to the iPhone, Apple is hopeful their next big profit boosts will be amidst services and wearables. In the June quarter, the company reported services rose 12% Year over Year (YOY), with profits totaling $19.6 billion.

Wearables dipped 8% in the same quarter but still had a healthy profit of $8.08 billion.

Apple’s next earnings report is estimated on Oct. 27, 2022. With the new iPhone 14, there is plenty of time to accumulate sales and ramp up numbers for the tech giant.

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