What's Going On With Apple Stock Today?

Apple Inc (NASDAQ:AAPL) shares are trading higher Thursday, extending a push toward the stock’s 52-week high as fresh data shows Apple gaining smartphone market share. Apple stock is trading near recent highs. What should traders watch with AAPL? Apple Gains Ground as Rivals Raise Prices Counterpoint Research data shows Apple’s phone shipments climbing 13% from a year earlier, pushing its share of the global smartphone market to an all-time high of 21% for the quarter. Analysts at the firm credited that surge largely to strong consumer appetite for the iPhone 17 lineup. Notably, Apple stood alone among the major phone makers in holding the line on pricing, even as rising memory chip costs pushed competitors to raise theirs. BofA also said in a note on Thursday that phone carrier promotions are acting as a tailwind for iPhone upgrades, which should help offset higher prices on new iPhones. The analyst firm expects the Duo release and Siri AI to help drive increased interest in upgrading, leading to a strong upgrade cycle. Apple’s Chart Shows a Clean Uptrend Nearing Resistance From a technical perspective, every major trend indicator lines up in Apple’s favor right now, with the 20-day average recently crossing above the 50-day, and the 50-day comfortably above the 200-day. Apple stock is currently trading above all key moving averages with shares roughly 4% higher than the 20-day benchmark near $321 and about 17% above the 200-day mark closer to $286, a lineup that gives a remarkably clear read on where momentum currently points. Momentum-wise, MACD is above its signal line, which points to improving upside pressure versus the prior downswing. When MACD is above the signal line it suggests buyers are gaining control and pullbacks are getting absorbed faster. Key resistance for Apple sits at the 52-week high of $344.57. A break above that level could lead to price discovery at higher share prices, whereas a failure at the highs could turn into a short-term "double-top" style stall. AAPL Price Action: Apple shares were up 0.98% at $335.69 at the time of publication on Thursday. The stock is approaching its 52-week high of $344.56, according to Benzinga Pro. Read Also: Elon Musk’s X And SpaceXAI Dropped Apple From Their Antitrust Fight Without Explaining Why — Now a Federal Judge Wants to See the Deal Image: sdx15/Shutterstock