AAPL Struggles Below Key Resistance Amid Calmer Bond Market

Apple shares continue to struggle below $335-$337, according to Traders Union. Despite some rebound attempts, AAPL has failed to reclaim this key resistance area and remains under pressure on October 2.

The hourly chart shows a weak short-term structure for the stock, trading below its fast-moving averages. This technical indicator suggests that the current price of $331 is not strong enough to break through the resistance level.

However, the macro backdrop has improved slightly due to weaker-than-expected U.S. labor market data, which has reduced the probability of further aggressive tightening by the Fed and eased pressure on the technology sector.

The 10-year Treasury yield has pulled back, reducing the risk-free rate and making Apple's high valuation more manageable. This could potentially support growth in the coming weeks, particularly with new smart home devices and expansion of the Siri and Apple Intelligence ecosystem on the horizon.