Why Apple could go back to $570 soon

It looks like Apple's new iPhone will be unveiled onSeptember 10, according to the website All Things D.

There's some speculation the company will offer a cheaperiPhone along with its newest model. Selling older versions of the iPhoneallowed Apple to get some share of price-conscious consumers without seriouslyaffecting its brand image.

A new, cheaper iPhone may also be important for otherreasons. Apple has been in a patent tug-of-war with Samsung, with both sidesclaiming the other stole patents. At one point, the importation of older AppleiPhones was banned by the US International Trade Commission (ITC), which foundApple had used Samsung's technology in part of the design. The ban was quicklyvetoed by the Obama Administration. Last week, the ITC found Samsung alsoinfringed on Apple's patents.

Some of the new features speculated in the new iPhoneinclude a fingerprint sensor, additional shell colors, and larger screens.

But will the new iPhone be enough to give Apple's stock theboost it needs?

Apple's stock price is now a little under $468. About 10% ofthat price is made up of the company's cash balances. Shares are down 17% in2013 and almost 28% over the past twelve months.

Looking at the charts on Apple are Talking Numberscontributor Richard Ross, Global Technical Strategist at Auerbach Grayson, andAbigail Doolittle, Technical Strategist at The Seaport Group. One is quitebullish, the other is bearish. Which one is right?

Watch the video above to see Ross and Doolittle analyzethe technicals for Apple.

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