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Sunday, July 3, 2022

Is Apple Inc. (AAPL) stock a better pick right now?

Report from Wall Street Analysts Shipments of smartphones by Apple Inc. (NASDAQ: AAPL) increased last month. This may be a sign that problems with the supply chain are slowly being fixed. In trading on June 21, the news caused AAPL shares to increase by more than 3% to $135.87.

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iPhone shipments were up 16% over April levels, according to analysts at the investment bank UBS. The restoration of industrial capabilities and logistics is the cause. In particular, COVID-19-related limitations in China are starting to ease. Large suppliers are also less affected by problems in the supply chain.

Recall that last month, the provincial governments of China announced the removal of several limitations put in place following a recent wave of coronavirus infections. There was a severe scarcity of completed smartphones in various countries at the time since iPhone manufacturing facilities had also stopped.

However, many firms have resumed regular operations now that the restrictions have been lifted, protecting the smartphone manufacturer from the impending scarcity.

Overall iPhone shipments are up 13% YoY and 155% month-over-month, according to UBS. As a result, the investment bank kept its 42 million projection for second-quarter iPhone shipments but acknowledged that this expectation could be modest given how quickly shipments are increasing.

Additionally, UBS reiterated its Buy recommendation on the AAPL stock with a $185 price target. Wall Street predicts that Apple Inc. (AAPL) will overcome its numerous supply chain issues and resume more consistent production and logistics.

Many traders are influenced by the daily fluctuations in price, thus in order to counteract this impact and constantly monitor the stock, traders place greater emphasis on the stock’s 200-day moving average. Investors are more likely to utilize that metric at various moments during trading activity as a powerful indicator to determine their support and resistance levels, and AAPL’s SMA-200 as of right now is $158.74.

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