Apple Inc. (NASDAQ:AAPL): Apple may be under selling pressure as traders are putting more cash into AI stocks

Apple stock is bouncing along the trendline supports on overexaggerated reports by some financial journalists and YouTubers that Vision Pro is being returned in droves to Apple Stores before their 14-day return period expires. In fact, Bloomberg's Apple expert Mark Gruman said in an interview that the Vision Pro returns are not large, somewhere between average and above-average... there is no sign of a crisis.

Wall Street is expecting Apple to sell 600k Vision Pros this year, 1M units in 2025 and 4M units in 2026. Apple just announced that 600 new apps built specifically for Vision Pro had been released. Apple stock has been moving sideways since November 2023 and may continue as AI bulls need to raise cash from somewhere to chase after the AI stocks.

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

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