If you haven’t already heard, Apple just shared several announcements with the world that not many people expected.
These announcements didn’t stick to the normal script we almost always hear from this technology giant, and many people hailed that as a very good thing considering that Apple seemed to implement some common sense ideas.
But even if all this news is considered to be wonderful by the public at large, it may not make a bit of difference. That’s because Apple stock has a critical point that will make or break it, and it’s rapidly approaching…
According to some, Apple shares are expected to rise as much as 50% on the back of the recent announcements regarding the iPhone and other products and services.
And honestly, I can see where that sentiment is coming from…
It seems that Apple has actually injected some common sense into its strategy by revealing that its latest iPhone will be available through a leasing program with free annual upgrades.
That’s big news considering that the iPhone made up 56% of Apple’s revenue last year. So while there were also other products revealed – a new iPad Pro, new Apple TV, and a new stylus – you can see how the leasing program was easily of the biggest consequence.
But is that really going to push Apple stock up 50%?
It’s going to take a lot more than just a bit of news if you ask me. Sure, in a raging bull market, news like this could send Apple stock to the moon in a hurry. But we’re not in a raging bull market, or even a bull market at all.
And because of that circumstance, we can’t simply assume that any stock is going to climb, even based on great news.
That’s why we need to pay special attention to Apple stock’s (AAPL) critical point: $120.
That’s the line in the sand right now. That’s what separates Apple stock from having enough momentum to carry it back up over previous highs from hitting too much resistance from people trying to get their money back after investing in Apple just before it fell.
If Apple can make it over that $120 mark, it could be set to rise strongly. If not, I’ll be ready to make money from Apple stock in a completely different (and probably more profitable) way, and so will subscribers to Midas Premium…
