to leave a comment.
▲ Apple (Apple, AAPL), foldable iPhone, AI infrastructure/AI generated image
Apple (AAPL) surged nearly 5%, fueled by expectations for a foldable iPhone and news of expanding artificial intelligence (AI) infrastructure using Google Cloud, raising hopes of re-breaking its 52-week high.
According to financial media outlet FXLeaders on July 3 (local time), Apple closed up 4.84% at $308.63 in Thursday's trading. The stock once again approached its 52-week high, and investors reacted more strongly to the prospects of the next iPhone product cycle and AI infrastructure expansion than to recent concerns about rising memory costs.
The biggest catalyst is the anticipation for the next iPhone lineup. Apple is reportedly preparing at least five new iPhone models between late 2026 and the first half of 2027. Among these, the foldable premium model, iPhone Ultra, is mentioned as a key product. Apple is said to have increased its production target for foldable models from the existing 7-8 million units to approximately 10 million units.
The pricing strategy also stimulated investor sentiment. According to market estimates, the price of the foldable model could reach around $2,500, and the price could further increase with higher storage capacity. FXLeaders reported that if Apple can create a new premium iPhone tier, it could help defend average selling prices and margins.
Expectations for easing memory cost burdens also contributed to the stock's rise. Apple is reportedly exploring supply options with Chinese semiconductor manufacturers, including ChangXin Memory Technologies and Yangtze Memory Technologies. Memory prices have surged as AI server demand absorbed DRAM and NAND supply, and Apple recently raised prices for some Mac, iPad, home devices, and Vision Pro products.
Apple's AI infrastructure strategy also garnered market attention. Apple is for the first time expanding its privacy-focused AI computing system, Private Cloud Compute, to Google Cloud. This system incorporates confidential computing protection devices utilizing NVIDIA (NVDA) Blackwell GPUs, Intel (INTC) TDX, and Google Titan Chips. FXLeaders reported that Apple aims to enhance its cloud AI processing capabilities while maintaining its privacy stance.
The technical trend also tilted bullish in the short term. Apple's stock price is above all major moving averages on the 4-hour chart, with the first resistance level indicated at $309-$310. If this level is breached, the next target becomes $317.40, near the 52-week high. Conversely, the first support level is $299.59, and the $294-$296 range is presented as a key price level that buying pressure must defend.
[Key Article Summary]
-Apple closed up 4.84% at $308.63 on expectations of a foldable iPhone and AI infrastructure expansion.
-Apple is preparing at least five new iPhone models between late 2026 and the first half of 2027, and the production target for foldable models is reportedly increased to approximately 10 million units.
-If the stock price breaks $309-$310, $317.40, near the 52-week high, is considered the next resistance level.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.