Apple Stock Forecast: Break Above 345 Could Target 371

The positive momentum is broadly aligned with the wider technology market, while leading analysts continue to issue constructive forecasts for the stock. Evercore ISI reiterated its “Outperform” rating and maintained a target price of 365.00 following reports about Apple Upgrade, a new device-leasing service expected to launch in the United States. The current advance also contrasts with the weaker technical picture described in FORECK.INFO’s previous Apple stock outlook.

Reports also suggest that Apple is preparing a major update to its Mac lineup, potentially including a 14-inch MacBook Pro powered by the next-generation M6 chip and refreshed iMac models. However, Apple has not officially announced the M6 chip, the new computers or a preorder schedule. Baird also maintained a similar rating and raised its target price to 330.00, citing expectations of stronger earnings supported by higher iPhone sales.

Apple is scheduled to publish its fiscal third-quarter results on July 30. Revenue is expected to decline from 111.20 billion dollars in the previous quarter to approximately 108.85 billion dollars, while remaining well above the 94.04 billion dollars reported in the same period a year earlier. Earnings per share (EPS) may decrease from 2.01 dollars to 1.89 dollars, compared with 1.57 dollars a year ago. The latest dividend was paid on May 14, when shareholders received the newly increased amount of 0.27 dollars per share for the first time. At a share price near 335.00, this corresponds to an annualised dividend yield of approximately 0.32%.

Support and Resistance Levels

On the daily chart, the instrument is trading below the resistance line of an ascending channel with dynamic boundaries at 340.00–280.00.

Technical indicators are strengthening the buy signal. The EMA range of the Alligator indicator is expanding upward, while the Awesome Oscillator histogram is forming rising bars in positive territory.

Resistance levels: 345.00, 371.00.

Support levels: 325.00, 290.00.

Apple Inc. Trading Scenarios and Stock Price Forecast

Long positions may be opened after the price rises and consolidates above 345.00, with a target at 371.00. Stop-loss — 330.00. Estimated implementation period: seven days or more.

Short positions may be opened after the price declines and consolidates below 325.00, with a target at 290.00 and a stop-loss at 340.00.