Apple Stock Retreats from Record Highs Amid Mixed iPhone Demand
Apple's stock price has retreated from record highs as it faces selling pressure. The current price of $340.02 is trading around $336, where the nearest dynamic support is located.
The company's new iPhone 18 Pro models went on sale on September 18 and have expanded to another 20 countries and regions. However, the picture remains mixed, with JPMorgan noting shorter delivery times than a year ago, while Morgan Stanley points to waits of two to four weeks for some models.
Despite strong fundamentals, including a 16% year-over-year revenue increase in the latest reported quarter, Apple's stock price is vulnerable to sharp profit-taking if iPhone sales data shows weakness. The regulatory environment also poses risks, with the EU's new terms for developers reducing legal uncertainty but continuing to put pressure on the App Store's economics.
As a result, AAPL's next move will largely depend on whether iPhone 18 Pro sales confirm current expectations. A break below support around $335 and a decline toward $330 would worsen AAPL's medium-term outlook.