Despite the stock being down over 25% from its highs, the longer term outlook remains positive.

Overview

Apple continues to feel the pressure of inflationary issues however it still maintains strong margins across its technology range and continues to expand its subscription services. According to statcounter Apples ISO operating system has a 27.8% global market share with Android holding around 71.4%, this means there is growth for Apple as they can take competition off Android. Looking at the chart, the tech giant could fall another 15/16% before it finds strong horizonal support at $115. There are other levels of support on the way down to this level, but $115 is a crucial support zone. Even if it did break here in 2022, the possibility of a bounce higher in the long term remains strong with many banks forecasting strong price forecast into the future. Towards the upside $149 will be the first tough resistance followed by $180 in the medium term.