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Get the chance to buy Apple's latest iPhones this Black Friday

29.11.2022

The iPhone-maker's struggles with production issues in China has resulted in empty-handed shoppers looking for Apple's latest high-end phones returning empty-handed from its stores on Black Friday.

The key manufacturing hub of Zhengzhou is likely to have production shortfalls of close to 6 million iPhone Pro units this year because of strict COVID 19 policies.

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Apple's shares closed 2.63% lower on Monday. As shoppers failed to find the latest iPhones on Friday, you could have gotten the chance to buy Apple's 146 strike put options that will expire on December 2 at $1.43, which would have doubled your money by Monday. According to Barchart, the Put option surged and closed at $2.94 after a drop in the company's share price. Benzinga's Take: If you look at Apple's hourly chart, the stock has registered lower highs in November in terms of resistance, as shown by the trendline. The stock refused to break the trendline on the upside and began its downward move on Friday. This was the time when traders could have judged its possible decline and move to the support areas of $146.93 and $145.95, both of which were breached on Monday.

Apple's stock has been close to the $143.38 level for the time being. If it breaches the downside's mark, the stock is expected to move toward the $141.43 mark.

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