Apple Is Worth A Small Initial Investment (Technical Analysis)
Summary
- Apple is highly profitable but considered overvalued, with concerns about lagging in AI development compared to peers.
- Despite valuation and AI worries, technical analysis shows bullish price action, strong support at $195-$200, and positive institutional buying trends.
- Momentum indicators suggest only a small initial position is warranted until long-term bullish momentum is confirmed.
- I rate AAPL a buy for a small position, with plans to add on strength or exit if shares fall below key support levels.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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