180.00 next stop, average analyst price target is 190. Makes sense that they're undervalued since small scares like "iphone x lower sales expected" puts this security on sale. Investors are quick to understand that this doesn't change its book value because the business's revenue growth is no longer dependent of a single new phone. Now, apple
has reported that the older phones such as 6 and 7 are contributing to higher revenue compared to the Iphone X. Also, yesterday apple
reported app store revenue up 30% from last year. These numbers are hard to beat, apples intrinsic value is 190 in my opinion. Based off of open interest contracts, it looks like 180 is the next stop for traders. I'd expect maybe some consolidation for earnings
and then a move up to 190 after 180. Tough to say because no one can guess earnings
, you can get close but its very speculative. We will see- looking at 180 in the next two-three weeks. Look at the bounce off the 50 MA and the accumulation indicator rising in a sideways consolidation.