In its relentless pursuit of innovation and tech dominance, Apple Inc. (NASDAQ: AAPL) has achieved a remarkable feat over the years, becoming the world’s largest company.
As of 2023, Apple briefly soared to a historic milestone, becoming the first company to reach a staggering $3 trillion in market capitalization. Though it has since settled at $2.7 trillion, the journey to this unparalleled achievement has been nothing short of extraordinary.
Since 2010, Apple’s share price has witnessed an astounding 1,708% surge, rising from $9.8 on September 18, 2010, to an impressive $177.2 as of September 18, 2023.
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This means that if one invested just $1,000 in September 2010 in AAPL, this investment would today be worth more than $18,200.
Apple stock price analysis
At press time, AAPL was changing hands at $177.2, up 1.27% in the past 24 hours.
The world’s biggest stock remained down 1.6% on the week, though it gained over 2.8% in the past 30 days.
Year-to-date, AAPL is up by more than 41%.
The stock currently faces a resistance zone ranging from $179.8 to $180.8, an area formed by a combination of several trend lines and important moving averages (MAs) across multiple time frames.
On the downside, the range between $171.5 and $174.4 represents an important support zone for AAPL, indicating an area where buying pressure may increase.
China’s iPhone ban
Earlier this month, China banned government workers from using Apple’s iPhones after alleging ‘security incidents,’ marking a noteworthy blow to the Cupertino, California-based company.
This is because Greater China accounts for 19% of Apple’s overall revenues, meaning that further deterioration in US-China trade conflicts could put this market share at risk.
According to Bloomberg analysts Anurag Rana and Andrew Girard, the ban “could dampen our iPhone sales recovery scenario next year.”
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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.
