Weekly forecast: Apple price eyes $204 breakout despite legal tensions
June was relatively stable for Apple’s stock price, especially when compared to April and May, when Donald Trump’s declaration of "Liberation Day" led to a 15% drop compared to the current level.
Apple ends the final week of June trading around $202, despite a June 20 shareholder lawsuit over delays in AI integration. The lawsuit links falling iPhone sales to withheld information about Apple’s progress in AI.
However, the market reaction was limited: shares briefly fell below $200 but quickly recovered.
Apple stock price dynamics for 5 months. Source: TradingView
Internal issues and Apple's response
Apple seems to have reassured investors by initiating negotiations to acquire Perplexity AI, a fast-growing startup. This deal could help Apple develop its own AI-based search engine, especially amid growing regulatory pressure and possible termination of its deal with Google due to antitrust concerns.
Currently, Apple stock is trading within a converging triangle, with a likely breakout above $204.
A potential catalyst next week is the U.S. Nonfarm Payrolls report on July 5. However, investors are paying closer attention to possible tariff announcements from Donald Trump before July 9.
Tariff uncertainty still weighs on price
Trump recently ended trade talks with Canada and threatened new tariffs over digital services taxes, which could burden American tech giants like Apple. Though less severe than tensions involving China or Taiwan, these developments may push the stock below $200.
Further downside pressure could also come from a higher-than-expected CPI reading and growing belief that the Fed may delay rate cuts until fall.
As we wrote, Apple stock price consolidates below $204 as triangle pattern nears breakout point
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