Apple tests $355 resistance as strong iPhone demand fuels bullish momentum

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Apple bulls eye a $370 breakout

Foldable iPhone demand strengthens the growth outlook

Additional support for the stock comes from analysts' assessments of the prospects for the new foldable iPhone Duo, demand for which continues to exceed available supply. According to UBS data released on November 11, delivery dates for new buyers have already shifted to late January 2027, despite a gradual increase in production volumes.

Delivery times are now approaching three months, while standard iPhone 18 Pro models are available much sooner. This suggests that Apple has managed to attract additional customers in the premium segment, although extended waiting times could limit actual sales during the holiday quarter.

China Renaissance upgraded the stock to Buy yesterday and raised its price target to $425, while Evercore ISI had previously reaffirmed its positive outlook with a target of $380. Meanwhile, the average analyst price target stands around $345, below the current share price, indicating significant differences in assessments of the company's further upside potential.

Indian manufacturing challenges raise supply concerns

One of the new risk factors has been problems in Apple's Indian supply chain. According to Reuters reports from November 10, the deaths of three contract workers at a Tata Electronics facility in Tamil Nadu prompted investigations by the company and local authorities. The plant manufactures components for iPhones, while Tata accounts for a significant share of Apple's smartphone assembly in India, which has become one of the company's most important production hubs outside China.

According to preliminary information, the incident has not directly affected production, but it has once again drawn attention to the operational risks associated with expanding manufacturing in the region. Additional uncertainty comes from previously identified cybersecurity issues at Tata facilities and the need to further expand production capacity. For Apple, the stability of Indian supplies is particularly important amid strong demand for new iPhone models and the company's efforts to diversify its manufacturing footprint.

AAPL could advance toward $370 after a breakout

AAPL's return to strong resistance around $355 increases the chances of a breakout and a rise toward at least $360–370. However, selling pressure at current levels still cannot be ruled out. A break below support at $350, as noted in Apple targets $370–380 as bulls challenge key resistance, would lead to a decline toward $345–340, although pullbacks may offer buying opportunities.

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