Glowtime or Showtime? What Apple’s Big Event Could Mean for AAPL Stock

Apple's upcoming "Glowtime" product launch event, where the new AI-powered iPhone is expected to be unveiled, has driven its stock price up 13% since early August. The event, scheduled for September 9 at Apple's Cupertino headquarters, will showcase several highly anticipated products, including four new iPhones, an updated Apple Watch to celebrate its 10th anniversary, and new versions of AirPods. A significant focus will be on the introduction of Apple Intelligence, the company’s AI platform, which is designed to enhance functionalities across iOS, iPadOS, and macOS. These upgrades, including features like text summarization, improved Siri, and email prioritization, will further solidify Apple's position in AI, though full rollout will take place in October, with some features delayed until 2025. #Apple #APPL #stock

In terms of hardware, the iPhone 16 series will see incremental upgrades such as the A17 Pro chip for base models and potentially the A18 Pro for higher-end variants. The Pro models are expected to have larger displays, capacitive “Capture” buttons, and significant camera improvements, particularly in optical zoom. The Apple Watch will also receive a major redesign, featuring larger displays for both standard and Ultra models, though advanced health tracking features like blood pressure detection will not debut just yet. Updated AirPods will maintain current price points but come with enhanced noise-cancellation technology.

Despite the buzz around the new product releases, there is potential for a "sell-the-news" reaction. Historically, Apple’s stock tends to underperform on the day of iPhone launches but modestly outperforms the broader market over the following three months. Since hitting a record high in July, the stock has retraced about 17%, though it has recovered much of that loss leading into Monday's event. On Friday, Apple closed at $220.82, just below the 50-day moving average, which, coupled with low trading volume, suggests that the recent weakness may lack strong conviction.

From my perspective, the key support levels to watch are $218, $207, and $196. If Apple’s stock faces initial selling pressure after the event, these areas could present buying opportunities for investors. On the upside, if shares gain momentum, resistance at $233 is a crucial level where investors might consider taking profits, particularly since it is near the stock's all-time high. Depending on how the market reacts to the event, these levels could guide my strategy with AAPL moving forward.

So guys what's your thoughts on Apple stock price? Dumping after iPhone16 roll out? Leave your comment and share us some of your valuable idea of market!