Can iPhone 15 Launch Hurl Apple Inc. (AAPL) Stock to New ATH?

• AAPL stock gained 5.11% in a week and 44.84% YTD. 
• Apple Inc. will release the new iPhone 15 series on September 12, 2023. 

Apple Inc. (NASDAQ: AAPL) stock should rally after the launch of the iPhone 15 series on September 12, 2023. The AAPL stock fell 4.29% in a month. Anticipating revenue influx, the AAPL share price gained 5.11% in a week. In comparison, on August 30th, the S&P 500 gained 0.38%, the Dow Jones Industrial Index swelled by 0.11%, and the Nasdaq 100 Index closed with a gain of 0.56%. 

Apple Inc. (AAPL Stock) – Upcoming iPhone 15 and Financial Analysis

The recent decline faced in August 2023 is expected to rebound hard after Apple launches the iPhone 15 series on September 12, 2023. Considering the buzz and frenzy around iPhone launches in the past, experts argue that the upcoming launch could propel the tech giant to become the world’s top smartphone brand. 

Apple even has a chance to beat Samsung as the top smartphone manufacturer for 2023 and 2024. Samsung has slashed its shipment target to 220 Million units for 2023. If Apple keeps the track unchanged, the iPhone 15 shipments should be between 220 and 225 Million units for the year. 

NASDAQ: AAPL Stock price, jumped 5.11% in a week, 26.75% in six months, and 44.84% year to date. 

Apple Inc. (NASDAQ: AAPL) – Technical Analysis

NASDAQ: AAPL, is trading at $187.65 at press time with a jump of 1.92%. During previous trading session, thee close was at $184.12 while open was at $184.94. The 52-week range is from $124.17 to $198.23, suggesting a solid influx could create new highs. With an average volume of 60.68 Million shares, the market cap is $2.934 Trillion. 

The trailing twelve-month (TTM) price-to-earnings (P/E) ratio is 3143, suggesting a slightly overvalued stock price. At the same time, the (TTM) earnings per share (EPS) is $5.97, suggesting financial strength. Analysts placed a 2.74 rating for moderate buy and estimated a price target at $198.86 with a $6.00 upside. 

Apple Inc. released Q2 earnings on August 3, 2023, where the reported revenue of $81.797 Billion surpassed the expected value of $81.795 Billion by a slight margin. In comparison, the reported earnings of $1.26 per share also beat the estimated value of $1.195 by 5.42%. Despite a favorable report, AAPL stock fell 9.94% during earnings. 

The revenue fell 1.40% compared to previous earnings, while EPS swelled by 5.00%. The subsequent earnings will be released on October 26, 2023, where the earnings shall be $1.389, and revenue is expected to be $89.251 Billion. The TTM revenue is $383.93 Billion, and the year-over-year (YoY) quarterly revenue growth fell by 1.40%. 

Apple Inc. (AAPL Stock) – Candle Exploration

Since March 2023, AAPL stock price has traversed in an ascending channel but fell off course in August 2023. It crossed the 50EMA but bounced back before crossing 200EMA. If the rally continues, it could touch the selling zone; if not, it could test immediate support at $171.17. However, the possibility of crossing S1 at 162.32 and S2 at $147.48 are slim. 

If the revenue influx after the iPhone launch comes out as expected, the price could cross the $210.00 mark. Moreover, if it can sustain this gain for a considerable period, a strong momentum can be expected, creating new all-time highs (ATH). 

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