Apple Selloff, Valuation and October Earnings Risk

The September 29 selloff after Apple briefly approached $345 and a $5 trillion market capitalization heightened double-top and valuation concerns, with resistance near 345-348 and support near 330-332. UBS’s $296 Hold target, Morgan Stanley’s target reduction, AI-agent concerns, memory costs, and legal risks increase downside sensitivity ahead of October 29 earnings.