While rumors of an iPhone 5S, iPhone 6, or an iTV might be enough to get all the hardcore Apple fans in a furor, they may not prove to be enough for investors to go on. Some fear that the road Apple’s going down with its iPhones and iPads is running out of room for innovation — a key driving force for Apple’s successes to date. So, if Apple has nowhere to go, its stock couldn’t reasonably be expected to perform as well as it has in the past.
While the iTV has been a rumor far too long for anyone to vest much hope in its eventual launch, a newer rumor has Apple preparing to enter a whole new market with ample room to grow. The rumored product? An iWatch. At least, that’s what the media is calling it.
Though Apple might not be the first one to break into the smart-watch market — Sony (NYSE:SNE) already has its Android-based SmartWatch — Apple’s ability to corner a section of a market could work well here. Especially considering Apple’s knack for design and the status of a watch as a fashion item…
The resistance zone Apple stock faces is between $497 and $514 per share. When Apple shares are in this range, some investors with Apple-heavy portfolios might try to lighten up on the Apple to avoid losses in case of another major decline like that over the past few months. Apple shares have been rising bit by bit over the past week, from a low of around $443 last Tuesday, up to $480 Monday afternoon. This growth could put it on course to reach the resistance zone this week.
Shares may stagnate or dive if Apple doesn’t have something new to encourage investors to bid up shares. While any new device could potentially do the trick, an iWatch would seem far more likely to, as it would hit a market previously untapped by Apple and could thoroughly bank on Apple’s forte in style.
Don’t Miss: Your Apple iWatch Rumor Roundup.