Apple Inc. (NASDAQ:AAPL)’s stock continues to surge after the company outlined its AI strategy, called Apple Intelligence, at its Worldwide Developers Conference on Monday.

On the stock market today, Apple stock rose 2.9% to close at $213.07. Earlier in the session, it notched an all-time high of $220.20.

This set the scene for Weekly Options USA Members to profit by 334% using an AAPL Weekly Options trade!

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Wednesday, June 12, 2024

by Ian Harvey

UPDATE

Apple Inc. (NASDAQ:AAPL)’s stock continues to surge after the company outlined its AI strategy, called Apple Intelligence, at its Worldwide Developers Conference on Monday.

On the stock market today, Apple stock rose 2.9% to close at $213.07. Earlier in the session, it notched an all-time high of $220.20.

Artificial intelligence capabilities will drive a major upgrade cycle for Apple's iPhone business, two Wall Street analysts said Wednesday. Apple stock spiked to a record high on the news.

"AI functionality is likely to drive a multiyear upgrade cycle" for iPhones, BofA Securities analyst Wamsi Mohan said in a client note. He added that Wall Street's current consensus estimates for iPhone sales are too low for the next two years.

Wedbush Securities analyst Daniel Ives concurred. He said Apple's AI push "will catalyze a long-awaited super cycle" for iPhone sales.

Ives estimates that 270 million iPhones out of the 1.5 billion worldwide installed base have not been upgraded in more than four years.

With the move higher, Apple overtook Microsoft as the world's most valuable company for much of the day. Apple now has a market capitalization of $3.27 trillion vs. $3.28 trillion for Microsoft.

The APPLE Weekly Options Potential Profit Explained.....

** OPTION TRADE: Buy AAPL JUL 12 2024 195.000 CALLS - price at last close was $3.95 - adjust accordingly.

Obviously the results will vary from trader to trader depending on entry cost and exit price that was undertaken.

Entered the AAPL Weekly Options (CALL) Trade on Tuesday, June 11, 2024 for $6.05.

Sold half the AAPL Weekly options contracts on Tuesday, June 11, 2024 for $14.03; a potential profit of132%.

Sold the remaining AAPL Weekly options contracts on Wednesday, June 12, 2024 for $26.25; a potential profit of 334%.

(This result will vary for members depending on their entry and exit strategies).

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Why the APPLE Weekly Options Trade was Originally Executed!

Trade Analysis

Apple Inc (NASDAQ: AAPL) is on the verge of setting new highs, potentially within this week. Analysts have recently increased their price targets, projecting a rise to around $250, which is approximately 25% above the current level. The integration of AI technology is expected to significantly boost Apple's sales and profits over the next five years, continuing to drive positive market sentiment.

Current Situation

Apple Inc. is currently integrating advanced artificial intelligence technologies into its products, including those from ChatGPT, as announced at its recent developer conference. This move is set to revolutionize its offerings, potentially increasing its market share and consumer base.

Key Insights from Earnings Call

During the latest earnings call, Apple highlighted significant advancements in AI integration across its devices, which is expected to enhance user experience and increase sales. The introduction of AI features in devices requiring newer models like the iPhone 15 Pro or Pro Max could trigger a substantial upgrade cycle.

Catalysts for the Trade

Apple's recent announcements at the Worldwide Developers Conference regarding AI and new product updates are expected to drive stock momentum. The requirement for newer iPhone models to access advanced AI features could lead to a significant number of upgrades.

Further Catalysts for the Trade

AI Integration and Product Upgrades

Apple's strategy to integrate AI into its devices not only enhances functionality but also positions the company at the forefront of technological innovation, potentially boosting its stock performance.

Market Expectations and Analyst Reactions

Following Apple's announcements, analysts have shown a mix of reactions, with some adjusting their price targets upwards. The strategic focus on AI has been well-received, though some analysts remain cautious about the immediate impact on consumer purchases.

Company Overview

Apple Inc., established in 1977 and headquartered in Cupertino, California, designs, manufactures, and markets a wide range of consumer electronics, including smartphones, computers, and tablets, along with various services.

Technical Analysis

• Market capitalization: $3.02 trillion.
• PE ratio: 30.62.
• Beta: 1.25.
• 52-week low: $164.07.
• 52-week high: $199.62.
• Fifty-day simple moving average: $179.90.
• Two-hundred-day simple moving average: $183.38.

Summary

This trade aims to capitalize on the anticipated growth and technological advancements of Apple Inc. The company's focus on AI and the expected upgrade cycle provide strong catalysts for this option trade.

Therefore…..

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