Apple Stock Trades Above Every Major Moving Average Heading Into Q3

Apple Inc. (NASDAQ:AAPL) shares are in the spotlight Friday, with earnings on deck, a wide split in analyst targets, a bullish technical setup and Edge Rankings all drawing attention.

• Apple stock is trading near recent highs. Where are AAPL shares going?

Earnings Preview & History

Apple is scheduled to report third-quarter earnings on July 30. Analysts estimate EPS of $1.89 along with revenue of $108.86 billion. For the prior quarter, Apple reported EPS of $2.01, beating the consensus estimate of $1.94. The company also posted revenue of $111.18 billion, exceeding the consensus estimate of $109.68 billion.

Apple has beaten EPS estimates in eight consecutive quarters. Over the last four quarters, the company has averaged an EPS surprise of 0.07% and a revenue surprise of 0.03%.

What To Watch

Investors will be watching iPhone revenue and pricing trends closely, particularly whether Apple is leaning into a higher-end mix ahead of a potential foldable launch, since traders want to see pricing power holding up rather than being propped up by promotions. Services revenue growth and gross margin direction are also key to track, as a premium valuation typically requires Services to keep cushioning any hardware volatility.

Commentary on Greater China and broader international demand should draw attention too, since regional softness can quickly overshadow an otherwise solid quarter at this valuation.

Apple Trades 17% Above Its 200-Day Average

Apple is still in a clear longer-term uptrend, with the stock trading 3.6% above its 20-day SMA ($311.49) and 17.1% above its 200-day SMA ($275.60), which typically signals buyers remain in control on pullbacks. The 20-day SMA is also above the 50-day SMA, and the 50-day SMA remains above the 200-day SMA—keeping the trend structure bullish.

Momentum is best read through MACD right now: MACD is above its signal line and the histogram is positive, which points to improving upside momentum versus the prior downswing. In plain terms, when MACD is above its signal line, it suggests selling pressure is fading and the trend is trying to re-assert higher.

From a levels perspective, the stock is hovering below the 52-week high at $334.99, so that zone is the next obvious area where sellers may show up if the rally continues. On the downside, traders will likely focus on whether pullbacks stay orderly above the late-spring/early-summer pivot area.

• Key Support: $287.50 — a nearby level where buyers previously stepped in, sitting close to the stock’s intermediate trend zone between the 100-day and 200-day averages.

Analyst Consensus & Recent Actions

The stock carries a Buy rating with an average price forecast of $325.36. Recent analyst moves include:

• Morgan Stanley: Overweight (Raises Target to $364.00) (July 23)
• HSBC: Upgraded to Buy (Raises Target to $366.00) (July 17)
• Keybanc: Downgraded to Underweight (Target $250.00) (July 14)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Apple, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Bullish (Score: 89.37) — The trend is strong, and the stock is acting like a leader versus the broader tape.
• Quality: Bullish (Score: 98.34) — The scorecard flags strong underlying business quality, which often helps support premium multiples in uptrends.
• Value: Weak (Score: 4.65) — The stock screens as expensive on traditional value metrics, so pullbacks can be sharper if growth expectations cool.
• Growth: Neutral (Score: 47.49) — Growth is viewed as more middle-of-the-pack, putting extra weight on execution and guidance to justify the valuation.

The Verdict: Apple’s Benzinga Edge signal reveals a momentum-and-quality-driven setup, where trend followers tend to stay involved as long as the stock holds key moving averages. The trade-off is valuation: with a weak Value score, the stock can be less forgiving around earnings if results or guidance don’t clearly support the premium multiple.

Apple Shares Edge Higher

AAPL Price Action: At the time of publication, Apple shares are trading 0.22% higher at $322.36, according to data from Benzinga Pro.

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