Apple Stock Stuck Between Record Revenue and Legal Uncertainty

Apple's stock price has been impacted by various factors in recent days. The company is currently facing a £2 billion lawsuit in London over its app tracking rules, which may lead to future compliance and liability uncertainties. This development comes as Apple reported its best June quarter with $109.4 billion in revenue and a 29% increase in diluted EPS.

The technical analysis suggests that AAPL is trading above its key moving averages, indicating short-, medium-, and long-term upside momentum. The Ichimoku Kijun level at $320.6 stands out as immediate support, and the MACD signals continued buying activity.

According to analysts, there is a 75% probability of an upward push, with a trading range between $316.52 and $333.28 expected in the near term. A break above resistance could open further gains, while a move below £320.6 may trigger selling toward the range low.