Apple ( (AAPL) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Apple has recently launched a new product called the ‘iPhone Pocket,’ a knitted strap designed to carry smartphones, just in time for the holiday season. Despite its simplicity, the product is marketed as a high-end fashion accessory, designed in collaboration with renowned Japanese fashion designer Issey Miyake. The iPhone Pocket has sparked mixed reactions online, with some praising its novelty while others criticize its high price, which ranges from $149.95 to $229.95.
In the financial markets, Apple remains a resilient choice amidst the current volatility in AI investments. While AI stocks face potential cyclical downturns, Apple offers stability with its strong brand and consistent product demand. Analysts have given Apple a Moderate Buy rating, with a price target suggesting a potential 8.17% upside. Despite its high valuation, Apple’s stock continues to attract investors, maintaining a bullish trend as evidenced by its moving averages and RSI indicators. However, hedge funds have shown low confidence, reducing their stakes significantly in recent months.