Apple Inc. [NASDAQ: AAPL]: One of the big news stories just before the markets closed for the holidays was that, Apple had received approval from the FCC for its MacBook Pro updates. The updates are mainly related to the touchpad. The company could be looking to release a MacBook Pro that is running on the latest generation technology such as the 8th generation Intel chips, and with a touchpad. At the moment, only the one without a touchpad has these features. Once this hits the market, it could drive up demand for two reasons. First, it will give people access to a cheaper MacBook Pro, since the one without a touchpad is more expensive. Secondly, it deals with one of the biggest issues that consumers have been complaining about, and that’s the lack of a physical escape key on the MacBook Pro. It will likely make the MacBook Pro more attractive to creatives who rely on Apple products for their work.
However, these updates don’t add much to Apple in terms of breakthrough innovations. There has been an ongoing narrative that Apple is no longer doing much in terms of coming up with market shaking innovations. But, this doesn’t mean that Apple is fading away. It’s still one of the biggest brands in the tech space, and has loyal customers all across the world. As such, as long as it keeps giving updates that add utility, such as the MacBook Pro one, it will probably continue to be top brand.
Looking at its short-term price action and the chart listed above, there isn’t much going on at this moment. On the 3rd of July, Apple closed the day with gains of 0.83%. This hasn’t changed much and in pre-market trading, it is down slightly. This can be attributed to the fact that it is a holiday week, and it’s Friday. It was making higher lows on Wednesday trading, before closing the day in a range. If bullish sentiment pushes it above Wednesday’s resistance at $204.44, it could close the week in the green. That aside, Apple’s day chart paints a bullish picture over the past month. However, Apple seems to have overhead resistance around the $211 to $215 range. If it could break this range it would be a good technical sign on the daily chart.