Apple stock price nears breakout zone as Jim Cramer urges investors to stay long
Apple stock consolidates near $209 amid bullish calls from Cramer and strong earnings outlook
Apple Inc. shares are drawing renewed attention as the stock consolidates near a pivotal breakout zone, following comments from CNBC’s Jim Cramer who reiterated his bullish view, citing “staggering” online sales growth and Apple’s robust long-term fundamentals. The tech giant’s stock closed near $209.11 on Tuesday, approaching the apex of a symmetrical triangle pattern formed after a multi-month correction from the $260 high.
Highlights
- Apple stock is testing key resistance near $213.50 within a tightening technical pattern
- Jim Cramer says investors should "own it, don't trade it" citing strong online sales
- EPS projected at $7.10, with revenue estimates over $404 billion for FY2025
Apple’s price structure has tightened within Fibonacci boundaries, with support at $203.82 (0.382 retracement) and resistance near the $225–$240 zone. The 20, 50, and 100 EMAs have turned upward and cluster between $206 and $210, suggesting a base may be forming. The 200 EMA at $213.28 aligns closely with the triangle’s upper boundary, making it a critical breakout level. A sustained move above $213.50 would likely validate a bullish continuation toward $225 and possibly $240.
Apple price dynamics (Source: TradingView)
Momentum indicators remain supportive. The RSI currently sits at 58.43, showing mild bullish momentum. A break above 60 would strengthen the case for upside acceleration. A failure to hold above $207, however, could trigger downside moves toward $203.80 and $190.50, challenging the bullish setup.
Cramer and earnings projections back long-term view
Cramer’s endorsement—“own it, don’t trade it”, is supported by strong earnings projections. Apple is expected to post full-year EPS of $7.10 on $404.05 billion in revenue, marking growth of over 5% and 3%, respectively. Apple’s forward P/E stands at 29.74, well above the sector average of 11.92. The company’s premium valuation reflects investor confidence in its brand, recurring services revenue, and ecosystem strength.
Analysts tracking Apple remain moderately bullish. Zacks currently rates the stock as a “Hold” (Rank #3), while highlighting stable earnings estimates and solid growth momentum.
In our earlier analysis, we flagged Apple’s bounce off the $204 level as a key signal of bullish intent. With volume rising and the triangle pattern nearing completion, traders should prepare for a decisive move in either direction. A break above the $213.50–$215 band would signal renewed strength.
