Apple (AAPL) share price slips towards psychological $200 level
Yesterday, Apple shares (AAPL) fell by 2.5%, edging closer to the key psychological threshold of $200. Moreover, the stock is underperforming the broader market, which reached new highs earlier this week — a move AAPL has yet to replicate.
Why is AAPL’s stock price declining?
According to media reports, investors may have grown concerned after OpenAI acquired a startup founded by Jony Ive, Apple’s former chief designer, for $6.5 billion.
The move is being interpreted as OpenAI’s first step toward launching a physical AI-powered device — one that could, eventually, pose a challenge to Apple’s hardware, even if not in the near term.
Technical analysis of the AAPL chart
Bulls may be hoping the AAPL price finds support at the confluence of two key levels:
→ the psychological $200 mark;
→ support from the second half of May (the lower blue trendline).
However, the broader technical context raises some bearish concerns:
→ the $215–222 zone, which previously acted as support, is now capping price advances (as highlighted by the arrows);
→ the red descending channel appears to define the current trend trajectory — and its relevance may be reinforced if the price drops and consolidates near its median line, signalling a balance between buying and selling pressure.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Yesterday, Apple shares (AAPL) fell by 2.5%, edging closer to the key psychological threshold of $200. Moreover, the stock is underperforming the broader market, which reached new highs earlier this week — a move AAPL has yet to replicate.
Why is AAPL’s stock price declining?
According to media reports, investors may have grown concerned after OpenAI acquired a startup founded by Jony Ive, Apple’s former chief designer, for $6.5 billion.
The move is being interpreted as OpenAI’s first step toward launching a physical AI-powered device — one that could, eventually, pose a challenge to Apple’s hardware, even if not in the near term.
Technical analysis of the AAPL chart
Bulls may be hoping the AAPL price finds support at the confluence of two key levels:
→ the psychological $200 mark;
→ support from the second half of May (the lower blue trendline).
However, the broader technical context raises some bearish concerns:
→ the $215–222 zone, which previously acted as support, is now capping price advances (as highlighted by the arrows);
→ the red descending channel appears to define the current trend trajectory — and its relevance may be reinforced if the price drops and consolidates near its median line, signalling a balance between buying and selling pressure.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.