Apple Inc. (NASDAQ:AAPL): Apple Continues To Retest the $125.72 Support Level, or its $2 Trillion Market Cap

 


Reuters reported today that output at Foxconn’s Zhengzhou plant had "basically returned to normal", confirming a similar Bloomberg report on Monday. A Foxconn source familiar with the matter also said that Apple did not cut orders, per Reuters.

In our view, the lost demand for iPhone 14 Pro/Pro Max in the December Quarter could be deferred into March and will not be destroyed, as speculated by the bears.

Despite the news, Apple stock pulled back along with the broader markets to close just below the $125.72 support level, or its $2 trillion market cap. Let's see if the stock can do better tomorrow after the release of the December NFP report.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!


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