Apple Bulls Eyeing Dip to $340, Bears Fear a Collapse Below $332

Apple's stock price is currently trading at $340.14, with immediate resistance at $342.98. The momentum has stalled after a 16% revenue surge in the last quarter, and buyers are showing up on every dip into the mid-$330s.

The market is in a pre-earnings holding pattern ahead of Apple's quarterly earnings report on October 29, which is expected to show $1.99 EPS on $112.84 billion in revenue. Institutional investors are not making any moves before the print.

Apple has walked into its next earnings call off the back of nine consecutive EPS beats and a strong recent quarter that delivered $109.42 billion in revenue, diluted EPS of $2.02, and iPhone revenue surging 22% to $54.3 billion.