Apple Inc. (NASDAQ:AAPL) shares are slipping Wednesday. The company unveiled its first touchscreen MacBook Pro, with shares just below their record high and earnings due next week.
- Apple stock is trading at elevated levels. Where is AAPL stock headed?
Apple Stock Dips After Touchscreen MacBook Pro Launch
Apple unveiled a MacBook Pro with a touchscreen on Wednesday, the first Mac to offer touch. Despite the news, its shares are trading lower. Buyers can order the laptop now in 14-inch and 16-inch versions. Deliveries begin Friday, Nov. 6.
Users can swipe, pinch and tap the screen. Apple says it built the touch sensor into the display itself, instead of layering it over the screen, to reduce lag. The OLED panel peaks at 2,000 nits of brightness, and the Dynamic Island, the iPhone’s pop-up area for alerts and live updates, now appears on a Mac. Apple hardware chief Johny Srouji called the laptop “a monumental step forward for the Mac.”
What is Inside the New MacBook Pro
Buyers pick between two Apple chips, the M5 Pro and the stronger M5 Max. Memory tops out at 128 gigabytes and storage at 16 terabytes. Apple rates the battery for as many as 24 hours. The 16-inch model weighs 4 pounds, down 0.7 pounds from the old design.
The 14-inch with M5 Pro costs $2,899 and up, and the 16-inch costs $3,399 and up. M5 Max versions start at $4,499 and $4,799. Apple is taking orders in 30 countries.
Apple Shares Sit Near Record High Before Earnings
The stock trades at approximately $345, slightly under its Oct. 23 peak and around 28% higher than a year ago. The $243.42 low came on Jan. 20. The dip is small so far, and nothing in the chart suggests the long uptrend has broken.
The launch follows last month’s iPhone Duo, Apple’s first foldable phone. Preorders sold-out on Oct. 16, AppleInsider reported, and shelves stocked up Oct. 23. Its sales stay out of the quarter that ended Sept. 26.
Apple’s report for that quarter, its fiscal fourth, lands Monday, Nov. 2, after the close. Analysts expect $1.99 per share on $113.38 billion in revenue. Last quarter, Apple posted $2.02 per share on $109.42 billion, topping forecasts of $1.89 and $108.65 billion.
AAPL Shares Are Dropping
AAPL Price Action: Apple shares were down 0.80% at $344.33 at the time of publication on Wednesday. The stock is approaching its 52-week high of $351.73, according to Benzinga Pro.
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