New Apple Price Target Ahead of $4 Trillion Nvidia Move
Apple’s chart reveals a new price target as the iPhone 17 gains momentum.
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Shares of Apple (AAPL) jumped nearly 4% to close at an all-time high on Monday, exceeding our recent price target for the stock. It was the stock’s first all-time high of this year. Apple has now surged for a 52% gain since bottoming in April.
Just last month, we touted Apple and placed a $260 price target on the stock. We felt the initial negative reactions to the Cupertino, California-based tech giant’s iPhone 17 were overdone. Analysts were overly critical of the new smartphone, claiming it was too similar to earlier iterations, while missing the mark on the company’s innovations in other areas.
Maybe analysts didn’t love the iPhone 17, but consumers seem pretty happy with it. In the first 10 days of its availability, sales of the iPhone 17 outpaced those of the iPhone 16 model by about 14%, according to market research firm Counterpoint.
The previous iPhone model was released on September 20, 2024. Both models were introduced a base price of $799.
Where Is Apple Headed Next?
According to the charts, the next stop for Apple is $280. That level represents the end point of an A-B-C-D pattern that has formed on Apple’s chart.
Apple’s breakout to new highs occurred on a significant increase in volume (arrow), which signifies the presence of institutional investors. We tend to favor moves that occur on high volume, as institutions possess research that is far superior to that of the average retail investor.
Apple also experienced a moving average crossover, as the stock’s 50-day moving average (blue) recently climbed above its 200-day moving average (red). This is an indication of growing momentum in the stock, which has underperformed the broader market in 2025. Shares of Apple have gained just 7.5% year-to-date, while the bellwether S&P 500 has managed a gain of 14.7%.
Apple to Join Nvidia in an Exclusive Club
Monday’s move pushed Apple’s market capitalization up to $3.9 trillion. The stock will likely soon join Nvidia as the only U.S. companies to achieve a $4 trillion market cap. As of Monday’s close, Nvidia’s market capitalization was $4.44 trillion.
Apple shares were upgraded by Loop Capital on Monday. The Chicago-based investment firm raised its target price for the stock to $315 from $226.
Bottom Line
On September 9, when the stock was trading in the $235 area, we indicated that Apple was about to resume its former role as a market leader. With Apple finally reaching a fresh all-time high, and showing signs of climbing even higher, the bulls have one of their strongest names back in the fold.
At the time of publication, Ponsi was long AAPL and NVDA.
