Bullish options flow was detected in AAPL stock in early trading on October 12, 2020.
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RBC Capital analyst Robert Muller raised the firm’s price target on Apple to $132 from $111 and kept an Outperform rating on the shares. The company’s upcoming Fitness+ offering is expected to become a “worthwhile competitor” in the Health and Wellness category. This service should benefit from the at-home spending focus trends during the pandemic. Muller adds that Fitness+ should generate synergy opportunities across Apple’s Watch/TV/iPad/Services businesses, representing one more way for the company to “drive customer loyalty and repeat purchases.”
Wedbush analyst Daniel Ives notes that this week Cupertino officially unveils its iPhone 12 product lineup in what he would characterize as Apple’s most crucial product cycle since the iPhone 6 in 2014. He expects four models of iPhone 12 to be released on Tuesday. All four models will have 5G. The Pro versions are expected to have LIDAR sensor technology, enhanced rear camera technology, and 4x/5x optical zoom. There will be a U.S., and non-U.S. versions introduced, with the U.S. version having mmWave technology, which could be a game-changer looking ahead as more infrastructure, technology, and apps are built around this transformational 5G highway over the coming years. The analyst thinks the line in the sand a few months ago was between 65M to 70M 5G iPhone 12 units and now has moved into the 75M-plus range with 80M a stretch goal. He has an Outperform rating and a price target of $150 on the shares.