Rotten Apple heading into the holidays
If Apple continues to have supply chain issues and sees a lack of demand for its iphone 13s, the double whammy should continue.
Share this:
On Wednesday, Apple (AAPL) reportedly told suppliers that there may not be a boost in demand for its iphone 13 heading into 2022 as supply chain issues ease. Apple had originally let investors know that due to problems throughout the supply chain, the production goal will be cut. However, now the bad news is compounded. Letting suppliers know that they may not have to pick up the pace once bottlenecks ease will not only set AAPL back in its forecasts, but it will also set back its suppliers who were previously looking to work double-time to pick up the slack once the supply chain problems are over.
Apple’s share price reached new all-time split-adjusted highs yesterday 170.30, before reversing and closing down 3.62%, near 164.65. Price had been in an orderly, long-term upward sloping channel since August 2020 before breaking above the top trendline yesterday. Price hit the 161.8% Fibonacci extension from the September 7th highs to the October 4th lows at 169.00 before reversing lower and moving back into the channel. Note the RSI was in overbought conditions as well. The candle on the daily timeframe was a shooting star, an indication of a reversal.
Source: Tradingview, Stone X
Trade AAPL now: Login or open a new account!
On a 240-minute timeframe, price has been forming higher highs and higher lows within the channel (green line). Today, price gapped lower at the open to 160.25. First resistance is at the gap fill and the top trendline of the long-term channel near 164.53, ahead of yesterdays highs at 170.30. First support is at the November 26th lows and September 8th highs near 156.37. Below there is the 50 Day Moving Average at 154.61 and horizontal support at 153.16. The 200 Day Moving Average is the next support level, down at 148.95. Pay particularly close attention if price reaches the trendlines at 145.09 and 137.07!
Source: Tradingview, Stone X
If Apple continues to have supply chain issues and sees a lack of demand for its iphone 13s, the double whammy should continue. However, don’t forget Apple has other products as well, one of which may be in the EV market in the future!
Learn more about equity trading opportunities.
On Wednesday, Apple (AAPL) reportedly told suppliers that there may not be a boost in demand for its iphone 13 heading into 2022 as supply chain issues ease. Apple had originally let investors know that due to problems throughout the supply chain, the production goal will be cut. However, now the bad news is compounded. Letting suppliers know that they may not have to pick up the pace once bottlenecks ease will not only set AAPL back in its forecasts, but it will also set back its suppliers who were previously looking to work double-time to pick up the slack once the supply chain problems are over.
Apple share price history in recent times
Apple’s share price reached new all-time split-adjusted highs yesterday 170.30, before reversing and closing down 3.62%, near 164.65. Price had been in an orderly, long-term upward sloping channel since August 2020 before breaking above the top trendline yesterday. Price hit the 161.8% Fibonacci extension from the September 7th highs to the October 4th lows at 169.00 before reversing lower and moving back into the channel. Note the RSI was in overbought conditions as well. The candle on the daily timeframe was a shooting star, an indication of a reversal.
Source: Tradingview, Stone X
Trade AAPL now: Login or Open a new account!
• Open an account in the UK
• Open an account in Australia
• Open an account in Singapore
On a 240-minute timeframe, price has been forming higher highs and higher lows within the channel (green line). Today, price gapped lower at the open to 160.25. First resistance is at the gap fill and the top trendline of the long-term channel near 164.53, ahead of yesterdays highs at 170.30. First support is at the November 26th lows and September 8th highs near 156.37. Below there is the 50 Day Moving Average at 154.61 and horizontal support at 153.16. The 200 Day Moving Average is the next support level, down at 148.95. Pay particularly close attention if price reaches the trendlines at 145.09 and 137.07!
Source: Tradingview, Stone X
If Apple continues to have supply chain issues and sees a lack of demand for its iphone 13s, the double whammy should continue. However, don’t forget Apple has other products as well, one of which may be in the EV market in the future!
Learn more about equity trading opportunities.
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Gold forecast: Rising yields become too hot for gold, but the outlook is far from bearish
Gold and silver prices took a plunge today, with the former down 3% and the latter falling some 5% by mid European session, before bouncing off their lows. The losses come after the metals remained largely supported until last week, despite the big dollar rally and surging bond yields as we have seen in recent weeks. But it simply got too much, and the metals succumbed to pressure today.
AUD/USD forecast: Currency Pair of the Week | September 28, 2026
The week has started with stocks, gold, silver and bitcoin all falling, as crude oil rebounded and bond yields pushed further higher. Trump refusing to agree to Tehran’s proposal to re-open the Strait of Hormuz has left the markets disappointed. Still, reports that mediators are expected to hold talks with the two sides on an amended version of the 7-day proposal that Iran presented, keeps hopes alive that we may see some progress.
Gold Outlook: XAU/USD hit hard as US yields, dollar resume ascent
A stronger dollar, surging front-end yields and renewed geopolitical tension have combined to push gold back towards key technical support.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.