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What To Know About Apple’s Stock Right Now

|Includes: Apple Inc. (AAPL)

There's hardly a time when Apple stock and the Apple company aren't in the headlines, whether related to financials or otherwise. Apple stock remains an attractive buying option although it's also a relatively expensive one, and people wonder whether it's a good time to get in, particularly considering the high price.

Along with using tools like stock analysis software, it can be a good idea to regularly go over the headlines of Apple and see if you can glean any insight as to what the right choice is. It's easy to only look at the fact that Apple shares are up 32 percent year-to-date as opposed to the S&P 500 with a six percent return and think it's a definite buy, but other actors play a role as well.

The following are some key things to know about Apple stock right now.

Price Target

Steven Milunovich, an analyst at UBS, recently pushed his Apple price target upward to $170 from $165 in a note from May 22. The research note was part of a series the analyst has been working on to determine the right pricing, and much of his prediction is based on the upcoming iPhone 8 cycle.

According to Milunovich, general predictions for Apple could be overlooking the selling prices for the iPhone 8. He believes the average sales price for 2018 could end up being around $740, which is bullish, and on the bear side, he estimates around $664 for the average selling price.

The iPhone 8

Understanding the impending release of the iPhone 8 is critical to understanding Apple stock right now and what opportunities exist. The Samsun Galaxy S8 is priced at $840, and there's a general belief that Apple won't be able to charge much more for their newest iPhone introduction realistically.

That would be the entry level price at $870, and prices could potentially exceed $1000 for iPhone models with 256GB of storage.

Wireless Technology

Apple is currently working on testing new wireless technology or 5G, which has the potential to increase the speed and bandwidth of iPhone connections tremendously. The new wireless technology was made public by the FCC recently, and technologies are currently being tested at two locations in California.

Competition

While there's a lot of good news coming up for Apple regarding innovation and new introductions to the market, there is also more competition, particularly in areas like China where the company is seeing a reduction in market share.

In China, mobile users don't necessarily need certain services and software available through Apple because local internet companies drive their experience.

In the first quarter of 2017, Apple smartphone shipments in China fell 27% year-over-year, and market share declined more than 9%.

There's also the issue of new lower-priced phones flooding into all markets, including the resurgence of Nokia, so investors have to wonder whether or not consumers will continue paying a premium for the iPhone.

Undoubtedly the next few months and even years are looking bright for Apple, but there are also potential headwinds for the stock, so investors have to be smart and look beyond the charts to make the right investment decision for them.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.