Apple shares jumped into record high territory ahead of the consumer electronics giant’s December-quarter earnings report, but with a recent pullback in Apple stock, many investors are wondering if Apple stock is a buy ahead of possible March product launch event.
The Cupertino, Calif.-based company began selling the 5G-enabled iPhone 12 series on Oct. 23… In addition to ultrafast 5G wireless connectivity, the 14th-generation iPhones have improved cameras, speedier processors and a new design. The Pro models of the iPhone 12 have a new rear-facing LiDAR scanner.
Sales reports have been positive for the iPhone 12 series, especially the more expensive models. That news has buoyed Apple stock recently. Some analysts believe an iPhone upgrade supercycle is underway.
The next potential catalyst for Apple stock is a rumored spring product launch event in March. Products in the pipeline include new iPad Pro tablets, new AirPods wireless earbuds and AirTags tracking devices…
Apple stock is not a buy right now. AAPL stock is trading well below its 50-day moving average line, a negative sign. Also, its relative strength line is falling as Apple stock underperforms the S&P 500 index. Apple stock needs to form a proper base in the right market conditions before setting a new potential buy point.
MacDailyNews Take: Own it, don’t trade it. Take advantage of the dips.
Two Warren Buffett quotes to consider:
Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.