Apple shares were among the winners on Wall Street on Friday, despite some disapoointing headlines.
Early Friday morning, Barron's Magazine came out with mixed reviews on the entire group of “Magnificent Seven” stocks. The Investment magazine detailed the facts behind the Magnificent Seven’s relative weakness in 2025. Barron’s also identified the technical shifts in the group’s prices that are now forecasting even further declines.
Later in the afternoon, Apple announced that the company would have delays to its AI improved Siri application. The delay is one of many that Apple has encountered as the company continues to incorporate AI into several products.
Shares traded 1.65% higher throughout the day as the market is experiencing renewed optimism that a bottom for stock may be within reach.
The Nasdaq 100 (QQQ) reversed from losses of 1.6% during the day to finish in positive territory. The late afternoon buying – while light in volume – signals that there are some short-term traders looking for opportunities to buy the dip in stocks.
Investors should be warned though.
Apple and the rest of the Magnificent Seven stocks have entered a period of negative momentum not seen since 2022.
Weeks ago, all seven of these stock traded below their key 50-day moving averages, signaling weakness in the group. We saw this situation in August 2024 when the Nasdaq 100 was going through a short-term correction.
Today though, six of these seven stocks have seen their 50-day moving average shift into bearish trends. The exception of the group, Meta. This technical feature forecasts that Apple and the other Mag Seven stocks are likely to press even lower over the next 4-6-week period.
Apple share’s rally today brought the stock to its bearishly trending 50-day at $239, a price that will play a determinant role in the stock’s next move.
A move back below the stock’s $235 price next week will result in a fast and aggressive challenge of the stock’s 200-day moving average at $226. A shift below that price will confirm the directionally bearish bias with a target price of $200.
Apple shares have remained in a consolidation over the last two week while many of the other large cap tech companies have slid lower. This plays to Apple’s favor, and suggests that the stock is likely set to outperform the other Magnificent Seven stocks over the next six months, even if the stock trades lower.
Apple maintains a long-term bull market outlook with a price target of $300. The stock’s short-term outlook is in “correction” mode with a possible target of $200.
