Where's Apple (AAPL) - Get Report stock heading next? That's now a popular question after shares of the iPhone maker on Thursday closed below both their 50-day and 100-day moving averages. Investors have now become concerned about where Apple's recent changes to its App store might lead.

The new revenue-sharing agreement with developers means Apple loses some pricing power. So not only is there a perception of lack of innovation inside Apple, the company could be losing the upper hand at its marketplace.

TheStreet's Jim Cramer and Research Director Jack Mohr of Action Alerts PLUS also looked at Apple last Friday, saying that Apple may be suffering from lower analyst expectations. "After a strong three weeks to close out May, Apple shares traded lower this week following a research note from Goldman Sachs, wherein the analysts trimmed estimates based on lower smartphone growth expectations." Cramer reiterated his $130 price target for the stock.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

While a pullback below the 50-day and 100-day support levels might appear is bearish, it would be a mistake to sell your Apple shares now. The optimal selling period has come and gone.

Now's the time to bet that the market has gotten this story wrong. Warren Buffett certainly hopes so.

Apple stock closed Thursday at $99.65, up 0.72%. But this translates to a decline of 2.19% since Apple shares closed at $101.89 on Monday. The shares are down 5.33% so far on the year, compared with a 3.5% rise in the S&P 500 (SPX) . But the shares are still up about 11% from their 52-week low last month to $89.47.

Warren Buffett's arrival seemingly altered Apple's prospects. And Apple's stock chart still points to a bullish recovery.

Take a look at the chart below, courtesy of TradingView.

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In determining where Apple shares may head next, let's consider that the stock has a consensus buy rating and an average analyst 12-month price target of $120. Despite the pullback below the 50-day and 100-day averages, Apple is about 3% above its 20-day average of $96.85 (blue line). That's where the focus should be.

It's been less than 30 days since the market learned Warren Buffett had bought into Apple. Following its recent surge, the stock is taking a deserved break, consolidating before it moves higher. As you can see from the green arrow in the chart, it parallels the move of the 20-day average since the beginning of June.

Until that changes, there is no cause for concern, especially with Apple stock establishing firm support at $95.20. In the next few sessions, the stock could move back above $100 as it may retest resistance at $103, or 3.36% higher.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.