Apple shares look to retake key level

Apple shares look to retake a key level as the stock rose in above-average trading volume for the second straight day on a news report that the company plans a big AI-focused refresh of its Mac and iPhone lineups this year.

Patrick Seitz for Investor’s Business Daily:

In morning trades on the stock market today, Apple stock climbed as much as 1.9% to 178.36. With the move, it rose above its 50-day moving average line near 177.

However, the gains faded. Apple stock was last up nearly 1% at 176.60.

On Thursday, Apple stock surged 4.3% to close at 175.04. The move happened after Bloomberg reported that Apple plans to overhaul its entire lineup of Macs with processors that have artificial intelligence capabilities. The new Mac computers will use M4 chips, its latest family of processors designed in house, Bloomberg said.

Also, Apple is looking to add AI features to its iPhone 16 lineup this fall, analysts say.

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MacDailyNews Take: The AI features for the iPhone are more important to Apple’s share price than the Mac.
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