Despite recent gains, Apple’s (NASDAQ: AAPL) stock trajectory has been volatile, notably since its peak of $197 in July. The focus is now on this tech giant as it addresses investor concerns following the last quarter’s earnings report.
While Apple demonstrated resilience amid the economic turbulence of the previous year, the narrative in 2023 tells a different story, with the company reporting a downturn in revenue for four consecutive quarters, indicative of a broader decline in consumer expenditure.
However, despite adverse quarterly reports, Apple stock showed signs of recovery as it passed the $190 threshold on November 16 for the first time since July.]
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This prompted Finbold to direct the inquiry to the AI tool ChatGPT, tasking it with suggesting a probable pricing range for APPL stock by the start of 2024. This directive considered factors such as the demand for goods, iCloud, music, AppleTV+ performance, and prevailing market conditions.
ChatGPT predicts APPL price range on January 1, 2024
Despite declining to offer a specific price for this stock, OpenAI’s ChatGPT and Apple’s price trajectory hinge on five critical factors in the next two months.
The AI identifies these factors as crucial to this stock’s performance: company performance, market conditions, industry trends, regulatory environment, and global events.
With the news of Apple falling further behind in efforts to replace an existing Qualcomm (QCOM) chip in its iPhones, it is no wonder why AI highlights ‘company performance’ as well as ‘industry trends’ as two leading factors, as they might prove crucial in driving APPL’s value in an upward manner.
However, ChatGPT’s counterpart, Google Bard, was more concise and offered a bullish prediction with a range of $200 and $240 as a predicted price for this stock by the start of 2024. It is based on APPL’s constant product diversification, which showcases strong financial performance and brand loyalty, which it enjoys among its customers, who return to buy its products year after year.
Apple price analysis
At the time of press, Apple stock was valued at $189.71, representing a 0.90% positive increase over the past 24 hours, with a gain of 3.12% in the previous five trading sessions.
In the previous month, this stock traded in a range of $166.89 and $190.79, with a price of $189.71; it is currently trading close to the upper range and is showing indications that it may soon break past this threshold, which further supports the predictions made by AI.
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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.
