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ChatGPT predicts Apple stock price for January 1, 2024

ChatGPT predicts Apple stock price for January 1, 2024

For many years, Apple (NASDAQ: AAPL) has been one of the stars both in the stock market and in the technology sector. Known as a major innovator that has relatively consistently increased its yearly sales, its shares have been on a relentless rise for the most part.

Apple’s most recent earnings reports, however, show some signs that the company is struggling to keep up as it has experienced revenue drops in four consecutive quarters. Additionally, while its stock market performance has been fairly strong in 2023, it has gone through a period of increased volatility since it hit its $197 July peak.

With all of these factors considered and the New Year right around the corner, Finbold decided to consult the artificial intelligence (AI) of OpenAI’s prime platform – ChatGPT – to figure out where Apple’s shares might stand at the onset of 2024.

ChatGPT assesses Apple’s prospects for January 1, 2024 

When making its analysis of how Apple might fare on New Year’s Day, ChatGPT considered the current optimism surrounding the company – both in terms of analyst forecasts and investor sentiment – as well as the fact that the tech giant has, despite the setbacks, outperformed the overall market throughout 2023.

ChatGPT identifies key factors for AAPL price. Source: Finbold and ChatGPT

The AI, ultimately, provided cautiously bullish concerning Apple and estimated that its stock could stand as high as $230 on January 1 while determining it is unlikely it would find itself below $200. 

ChatGPT, however, also pointed out that there are multiple factors that could push the tech company’s stock either way, such as overall market conditions, challenges from competitors in the sector, and the success of its current innovative endeavors. 

ChatGPT predicts the likely AAPL price range on January 1, 2024. Source: FInbold and ChatGPT

APPL price analysis

In the last 7 days, Apple has experienced a significant surge and is up 3.04%. At the latest market close on Friday, December 8, the firm’s shares were also in the green – albeit only slightly – having risen 0.74% to the price of $195.71.

Looking at the entire year, Apple has been offering a very strong performance despite its period of decline and volatility between August and the resurgence of bullish momentum in late October. 

In the last month, AAPL has been trading in the 183.53 – 195.99 range, which is quite wide. It is currently trading near the high of this range. A resistance zone ranging from 195.84 to 196.46. This zone is formed by a combination of multiple trend lines in multiple time frames.

A support zone ranging from 190.27 to 193.97. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. Overall, since January 1, 2023, its shares have been up a total of 56.48%. 

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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