Apple (AAPL) stock is 1% down even though the coronavirus production delays will not affect the iPhone 12 September launch, as the high demand for 5G A14 chips pushes the company to the limit.
New Apple iPhone 12 will be launched as planned by September despite the delays caused by the coronavirus outbreak. Apple has registered a spike in demand in A14 chips iPhone that supports the 5G network as the competitor Samsung has recently unveiled its flagship Galaxy S20 devices with the latest technology.
However, Apple (AAPL) stock dipped down by 1% to close the market yesterday at $324 per share. The current phase of the stock is trading at what analysts think might be a critical tipping point, reasons because, the market chart might be forming a double top preparing for a reversal after consolidating for a while or a bull rally correction which might see the shares trade all-time high.
Apple iPhone 12 Series
As the company recently released its iPhone 11 with different features, not all Apple enthusiasts were pleased by the launch as it did not include the latest technology. However, as traditional iPhone designers and engineers have never disappointed, the latest iPhone 12 will have A14 chips, support 5G network and also use an OLED screen.
The version release is expected to boost Apple Inc. stocks as it will catalyze the dormant shares that have started showing signs of horizontal trading. According to Apple, the demand for A14 chips is 50% higher than A13 chips in the same period.
Apple has however stopped sending its iPhone engineers to China in fears of coronavirus outbreak, therefore, the progress in the prototype validation test has consequently been halted. Rumors are speculating that Apple will be releasing more new iPhone models during this year’s launch than it has ever released in the previous years.
It is expected Apple will have a 5.4 inch OLED iPhone in addition to it will be a 6.1 inch OLED model with two rear cameras. Apple is also expected to release another 6.1 inches OLED iPhone to be termed, 12 max, however, it will come with three rear cameras plus a 3D time of flight sensor.
Apple Business: a Bigger Picture
As the Chinese authorities continue fighting to control the coronavirus outbreak, the economy will receive the hardest kick. As the death toll continues rising by the day, resulting in companies closing down and the market performing poorly, Apple will only hope the matter is contained fast enough.
If the launching of the iPhone 12 takes place as planned, the biggest beneficiary will be the stocks that are lacking fuel to push any higher than the current hurdle can persist. However, it cannot be sweet under the table that Apple Inc. AAPL has been constantly since last year testing all-time high at the current market price.
A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery!
