Apple at a new ATH, gaining over 5% 🎯

Apple gains 5.10%, breaking to new all-time highs above $200 per share. The main driver of the increase is the announcement of new products and progress in integrating AI models. As a result, investors and analysts expect a new wave of demand from users of older versions wanting to upgrade their systems to include the latest functionalities.

Apple's New Product Announcements at WWDC24

1. Apple Intelligence: This new personal intelligence system integrates generative models with users’ personal context to enhance the functionality of iPhone, iPad, and Mac. It focuses on on-device processing to ensure privacy, simplifying and accelerating everyday tasks without collecting user data.

2. iOS 18: Introduces customizable Home Screen layouts, enhanced Lock Screen buttons, and an improved Control Center.

3. iPadOS 18: Enhances versatility with new Apple Pencil features, including a Calculator app with Math Notes for solving expressions in handwriting. Notes gain new handwriting tools like Smart Script for more fluid and readable notes.

4. macOS Sequoia: Improves Continuity with iPhone Mirroring, allowing full control of iPhone from Mac. Safari's new highlights feature makes information discovery easier, and Personalized Spatial Audio enhances gaming. Apple Intelligence improves writing, communication, and creative capabilities, leveraging the power of Apple silicon and its Neural Engine.

5. watchOS 11: Offers advanced health and fitness insights with the new Vitals app, customizable Activity rings, and the ability to measure training load. Personalization is enhanced with the Smart Stack and Photos face, and new apps like Check In and Translate add connectivity and convenience.

6. visionOS 2: Brings advanced spatial computing to Apple Vision Pro, including spatial photos, intuitive hand gestures, and new features for Mac Virtual Display.

Following the new product announcements, analysts updated their recommendations, remaining positive about the company's business situation. Analysts from Bank of America, D.A. Davidson, and Bernstein currently value Apple shares at $230, $230, and $195, respectively. Analysts from Bank of America and Bernstein also suggested that new features incorporating AI models might stimulate an iPhone upgrade cycle, especially for those equipped with the M1 chip or newer. These features, available in newer devices like the iPhone 15 Pro and Pro Max, are expected to enhance user productivity, potentially leading to a shorter upgrade cycle with the iPhone 16.

Apple (D1 interval)

Today, Apple shares are gaining strongly, breaking above the key resistance level around $200 per share. Apple gains over 5.10% to reach $203.20. At the time of publication, the scale of gains on the D1 interval is the largest this year, and also in 2023. If the bulls manage to sustain the gains in the coming days without falling below $200 per share, it will be a strong bullish signal.

Source: xStation 5