Apple Just Broke Out (AAPL)

On July 16, we noted, “Apple looks interesting. Last trading at $210.40, we’d like to see the tech giant break above triple top resistance with a near-term bearish gap refill at around $220. Helping, analysts at Jefferies just raised their price target on Apple to $188.32 from $170.62. The firm is still positive about the strength of Apple’s sales in the June 2025 quarter.”

Today, Apple is up to $236.12 and could push even higher. Helping, analysts at BTIG just reiterated a buy rating on the stock with a $198 price target. 

Plus, a federal judge’s ruling on an antitrust case brought by the U.S. Department of Justice was a homerun for Alphabet and Apple.

“Google and Apple just got a massive win from the court’s ruling that the ongoing $20 billion search deal between the two stalwarts will remain and not be barred in its current form. This was a black cloud worry over Apple’s stock as investors worried a Google Chrome breakup and/or forced to extinguish the search deal with Apple was potentially on the docket,” said analysts at Wedbush, as quoted by Seeking Alpha.Technically, Apple just broke above prior resistance at $235.12. Now, if it can break above March 2025 resistance at $235.58, it could potentially retest $250 shortly after.

Sincerely,

Ian Cooper