Apple Stock AAPL Faces Key Support as iPhone 17 and New Devices Fail to Impress
The release of Apple's much awaited iPhone 17 and other products made headlines, but the company's stock did not rise. The Dow and Nasdaq...
Quick overview
- Apple's launch of the iPhone 17 and new devices failed to excite investors, leading to a decline in stock price.
- Despite Apple's struggles, the Dow and Nasdaq maintained their momentum, reflecting broader market resilience.
- Apple announced a $100 billion expansion in domestic production, signaling a shift in its supply chain strategy.
- Analysts described Apple's product upgrades as incremental, highlighting the challenge of generating market enthusiasm.
Live AAPL Chart
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The release of Apple’s much awaited iPhone 17 and other products made headlines, but the company’s stock did not rise. The Dow and Nasdaq maintained their positions despite Apple’s blunder, indicating that investors are still drawn to large-cap growth and industrial strength.
Apple’s “Awe Dropping” Event Underwhelms
Apple’s product showcase — branded the “Awe Dropping” event — unveiled the iPhone 17, iPhone 17 Air, new Apple Watch, and updated AirPods. While polished, the presentation failed to ignite investor excitement. The stock briefly spiked during the event but quickly reversed, closing lower for a second consecutive day and sliding further in after-hours trading. Analysts largely labeled the upgrades as “incremental” rather than transformational, underscoring the challenge Apple faces in sparking market enthusiasm.
Stock Pressure and Technical Levels
Apple’s shares soared to $241 by Friday, but has reversed this week after the doji candlestick at the top. The stock is now testing the 20-day SMA, a critical support level that previously halted deeper selloffs. If the 20 SMA breaks, then the pullback might deepen to $224. Despite near-term weakness, the longer-term trend remains constructive, with optimism tied to Apple’s expanding ecosystem and service revenues.
Strategic Manufacturing Pivot
Away from devices, Apple announced a $100 billion expansion in domestic production, raising its total U.S. investment commitment to $600 billion. The plan, coordinated with President Trump and the White House, signals a bold push to reshape the company’s supply chain and reduce reliance on foreign manufacturing.
CEO Tim Cook, who has been vocal about reshoring production, even floated the idea of a 25% tax incentive to accelerate the transition. While symbolically powerful, the announcement did little to offset the drag on Apple’s share price.
Nasdaq and Dow Hold Momentum
While Apple’s retreat weighed on tech sentiment, the Nasdaq Composite managed to finish the session in positive territory, buoyed by other AI and semiconductor leaders. Meanwhile, the Dow Jones Industrial Average extended its upward trajectory, reflecting ongoing strength in industrials, financials, and healthcare stocks. The divergence highlighted that while Apple’s stumble hurt, broader market resilience kept indices steady near record highs.
Conclusion: Apple’s iPhone 17 debut may have underwhelmed investors, but the Dow and Nasdaq continued to demonstrate staying power, suggesting market momentum remains intact beyond a single stock’s performance. With inflation data on the horizon and Apple’s long-term manufacturing strategy in play, the market’s focus is shifting toward macroeconomic drivers — leaving Apple to prove whether its incremental innovations can deliver outsized returns.
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