Apple shares rebound on Tuesday, Morgan Stanley analyst offers price estimates for upcoming iPhone models

June 27, 2018 12:08 pm

The latest research note by Morgan Stanley analyst Katy Huberty revealed an anticipated pricing for the three new iPhones that are scheduled to be released by Apple Inc (AAPL) later during the summer.

Apple shares closed higher for the fourth time in the past fourteen trading sessions on NASDAQ on Tuesday. It has also been the sharpest daily surge since June 1st. The stock went up 1.24% ($2.26) to $184.43, after touching an intraday high at $186.53, or a price level not seen since June 21st ($188.35).

Shares of Apple Inc have surged 8.98% so far in 2018 compared with a 1.85% gain for the underlying index, S&P 500 (SPX).

In 2017, Apple’s stock gained 46.11%, thus, it again outperformed the S&P 500, which registered a 19.42% return.

The 5.8-inch iPhone with an OLED display, which succeeds the original iPhone X, is to be priced at $899, the analyst noted.

The 6.5-inch OLED handset, known as iPhone X Plus, is to have a starting price of $999.

However, Huberty noted that in case clients were looking for more storage, both models would be pricier. In this case, if Apple’s current pricing scheme is retained, the 5.8-inch iPhone will cost $1,049, while the 6.5-inch model will be priced at $1,149.

The third iPhone model to be released by Apple this year is to have a 6.1-inch LCD display and a single-lens backside camera. According to Huberty, its starting price is expected to be between $699 and $769.

Huberty also projects the average selling price of the devices to range between a 2% decrease and a 2% increase in dependence on how the least expensive new iPhone is priced by the tech company.

According to CNN Money, the 35 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $200.00, with a high estimate of $235.00 and a low estimate of $161.00. The median estimate represents an 8.44% upside compared to the closing price of $184.43 on June 26th.

The same media also reported that 21 out of 42 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 17 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Apple stock are presented as follows:

R1 – $184.80
R2 – $185.16
R3 (Range Resistance – Sell) – $185.53
R4 (Long Breakout) – $186.62
R5 (Breakout Target 1) – $187.91
R6 (Breakout Target 2) – $188.46

S1 – $184.06
S2 – $183.70
S3 (Range Support – Buy) – $183.33
S4 (Short Breakout) – $182.24
S5 (Breakout Target 1) – $180.95
S6 (Breakout Target 2) – $180.40

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $185.86
R1 – $188.28
R2 – $191.63
R3 – $194.05
R4 – $196.46

S1 – $182.51
S2 – $180.09
S3 – $176.74
S4 – $173.38

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