To The Moon

$Apple(AAPL)$ trading volume rank the top 3 among all US. stocks.

This Monday, I shared that some technology companies such as $Apple(AAPL)$, $NVIDIA Corp(NVDA)$, $Amazon.com(AMZN)$, $Microsoft(MSFT)$, etc. may have some important updates in September that will boost the market and make September this year different.

However, the current performance so far this month may be a bit pessimistic.

As of press time, $S&P 500(.SPX)$ $NASDAQ(.IXIC)$ , $DJIA(.DJI)$ fell by 1.25%, 2.04%, and 0.64% respectively in September.

The main drag on the market may be from $Apple(AAPL)$ , $NVIDIA Corp(NVDA)$ , which fell 5.49% & 6.31% respectively in September as of the close of September 7.

$Apple(AAPL)$, the largest company on planet earth, has had its worst 2 days in yrs, losing 6% (circa $200bn) of its value.

The main reason is market rumors that $Apple(AAPL)$ is facing a new competitive threat in China after the country ordered some officials not to use iPhones, and the Chinese hardware giant Huawei Technologies is selling a smartphone capable of ultrafast data connectivity.

$Apple(AAPL)$’s trading volume was huge on Wednesday, ranking third in terms of trading volume in the whole U.S. stock market.

From a technical analysis point of view, $Apple(AAPL)$ ‘s stock price is currently supported by 125DMA (around $176.34 area), where $Apple(AAPL)$ had rebounded on August 21.

Some investors were also said to be betting on a rebound in leveraged financing during Wednesday's session.

The reasons for betting on a rebound may have the following perspectives:

Dan Ives, Wedbush Securities analyst, said in the latest CNBC interview that he is still optimistic about the stock price of $Apple(AAPL)$ . He believes that Apple can rise by 30% from the current price.

China accounts for 19% of Apple's revenue, and less than 1% of the population works in the government. Analysts project $407 billion of revenue in the fiscal year ending in September. Say iPhones sold in China have a margin of 35%, higher than that of the overall company.

To be honest, is his point of view worth accepting? If you are interested, you can listen to his youtube video.

In addition, can we expected Apple's event on September 15 will drive $Apple(AAPL)$ price higher ?

Apple Event 2023: iPhone 15 Launch and Everything Else We Expect to See on Sept. 12 - CNET

Apple dominates the high-end market.

• The iPhone 15 Pro series will adopt the A17 chip, which uses TSMC's 3nm process.

• High-end models will have narrower bezels and bigger screens:

• High-end models switching to the Action Button:

Regarding rrice increase and market sentiment: Several analyses, including Bloomberg, expected a price increase for the iPhone 15 series. In particular, the iPhone 15 Pro can potentially see a price hike of US$100 to $200.

However, IDC has noted that in recent times, only Apple has been able to achieve decent results through price reductions alone, as the iPhone 14 became noticeably more popular after a price drop.

The key takeaways from lastest Q223 earning pointed that sales of Apple iPhone products fell by more than 2%, contributing to a third straight quarter of overall device sales declines. and Sales of smartphones have been down for two years industry-wide, though $Apple(AAPL)$ has fared better than competitors because it offers products in the in-demand premium category.

From this point of view, it is doubtful whether the iPhone 15 Pro can successfully boost $Apple(AAPL)$ . As of now, analysts' average price target for $Apple(AAPL)$ is $200.48.