“Apple (AAPL) has had a rough time of it over the past six months or so, and many have lost the faith. These fair weather fans, that once extolled the virtues of the all things iMaker, are now calling for its demise,” Ernie Varitimos writes for TheStreet. “Well, after close exhaustive technical analysis, and corroboration with Master Elliottician, Ted Aguhob of Wave Genius, we have determined the markets are going to explode in the next year or two, and so will Apple.”
“What we are experiencing right now in the major indices is a massive third wave breakout in its very early stages. The interesting thing is that Apple normally leads the way in such market-wide events, but this time it’s a lagger,” Varitimos writes. “It appears now that the pullback that has shook the Apple faithful, is actually a massive two wave. And looks like it may have bottomed, or come very close to bottoming. Upon closer scrutiny, the pullback off the all-time high of 705 has formed a classic ABC corrective wave. Normally the A wave equals the C wave, but in this case the C wave has truncated, turning up just short of the ideal formation.”
Varitimos writes, “The timing of this move is not determinate, but advances usually move slower than declines, so we expect the call to be realized by the end of 2014.”
Read more in the full article here.
MacDailyNews Take: iCal’ed.
From your lips to God’s ears. Would be a nice move for my portfolio.
“ABC, easy as 123, simple as Do Re Mi…”
“Normally the A wave equals the C wave, but in this case the C wave has truncated, turning up just short of the ideal formation.”
What total BS! What I don’t like about stories like this is that it gives blind, irrational supporters of the management of Apple that is dead in the water something else to imagine other than reality. It could delay the overdue departure of Tim Cook and that’s a bad thing. The ONLY thing that will get AAPL moving north again is new leadership at the languishing company.
Give it a rest…. You’re way beyond tiresome.
Tiresome? Really? You want tiresome, keep reading MDN lemmings who are in total denial about what’s in the best interest of the company, its share price, and its potential for reclaiming the leadership role in innovation that seems to have been buried along with its visionary founder. As a shareholder, I will keep calling for new leadership until the company’s directors hears what the smart owners of the company are saying.
I think Cook is doing great. Apple only ever released a revolutionary product about every 5 years or so. Give it time.
But let’s say you’re right. That Cook is messing it up. Who in the world would mess it up less?
The team at Apple is the best.
apple made a few delightful toys… after being a boutique company for decades. Now, flushed with lots of money, they act like all the successful tech companies they tried unsuccessfully to become. Now they are what they used to advertise against, except they have lost the sole decision maker. Apple is toast.
Shareholder? Really? You mean you have ridden it all the way down from $705 last September to $455 this morning? Why? Why didn’t you take your profit last summer and wait for a better reentry point? You do realize that’s a loss of $250 per share? I understand your issue with Tim Cook. But I don’t know that it is his fault that the stock was driven up too high last summer. It’s not his fault that uninformed investors piled into the stock. And it’s not his fault that you didn’t take your profit when the price was too high. It didn’t take a seasoned investor to see that the stock price had run-up too fast. Investors who were paying attention knew to get out of the stock for a a while. With incredible amounts of profit. It was an incredible opportunity to make huge gains. Anyone who failed to get out last summer can’t blame Tim Cook. It was just basic investing. Were you, or anyone on this site, mad at Tim Cook last September? Were you complaining then? I do think that someone should be defending Apple more vigorously. Apple is still a great company with great products to sell. Tim Cook as CEO should do better at defending his company, or someone at Apple should do better. What you may be overlooking, as do so many on the site, is that Apple has competition. Fierce competition. It doesn’t matter that their competition isn’t profitable, it’s still fierce competition. I’d like to see Apple start running better television commercials too. Tim Cook is CEO so we can hang that on him. But again, you can’t blame Tim Cook because you failed to get out of a stock that had run up beyond intelligent expectations. Technicals and fundamentals were great last summer but not that great! That was clearly a bubble in the making. It happens, it happens to stocks all the time. But I’m guessing that a lot of your (and so many here) anger and angst is due to your failure to execute the number one objective in investing. That objective is to make a profit and to not lose money. That objective is to be smart enough to know when to put more money in and when to take your money out for a a while. It’s investing and buy-and-hold forever is not investing. That’s hoping. I hope you’re not one of those investor types. I’m with you as far as Apple having a lot of problems, but I just don’t know if that’s all Tim Cook’s fault. But he is CEO and I expect these problems to be addressed. If not then he should move along. And quickly.
I sold at 700 and bought at 500 again.
IMHO, Tim Cook’s deafening silence in the last few months is just part of Apple’s new policy, with even tighter control over news leaks. Something to get used to for speculators and analysts alike, who, in the absence of any clues, continue shooting their mouths off with baseless analyses.
…”just part of Apple’s new policy”?
Hardly…
It is easy to confuse silence minimal reaction to all negative press with weakness or some other negative trait. This is a long term, patient response. Apple never reacts to frivolous press whim. This is a concerted effort to make Apple look bad but will turn out silly as Apple’s success plows ahead over time. Its not a fanatical thing to see the World record growth, profit and customer satisfaction. This upsets the anti-apple crowd.
We sometimes wonder why Apple Inc. experiences unwarranted issues with its stock price! Garbage like this which are pie in the sky forecasts simply set up a tone for a fabricated market price which sees a fundamentally strong stock go from $700.00 to $430.00 for no legitimate reason. iCal that MDN! This article is pure speculation and appears to have been written in the middle of the night by some failed blogger high on crack!
You got 2 out of 4 correct. I did write it in the middle of the night, it is pure speculation, but based on the principles defined by R.N. Elliott, I wasn’t high on crack, and I couldn’t be considered a failed blogger since I was published on MDN.
I’m assuming the writer of that article was standing when they wrote it – as one would need easy access to their rear end to pull a number out of their ass like that!
Absolutely ridiculous conjecture for a stock that can barely hold $450 a share. Even assuming Apple’s rapidly decaying P/E holds steady, Apple would have to have massive amounts of revenue to have such a share price and it just doesn’t seem possible that hedge funds would just keep pouring money into Apple stock when there are so many easier stocks to boost to $1000 a share. Apple at $800 a share seems like a remote possibility but that’s as high as it goes unless Apple gets into some other business unrelated to hardware.
I love Apple products but I sure won’t be standing in line to buy any Ultra-HDTV and that’s for certain. My eyes have about 720p capacity and any more resolution is just a waste for me.
Well. This one has about as much validity as every other analyst we’ve heard from in the past 6 months. Or the 6 months before that. The wave stuff just kills me. Like there’s some rational underlying force that can be quantified. As we’ve witnessed in the last 9 months, the stock price varies because irrational unsubstantiated expectations are put on Apple’s performance, which they either exceed or don’t meet, then all the irrational percentage of stockholders begin the buying and selling sprees because they actually start to believe the hogwash they read. This idiot ranks right up there with those other idiots who think Apple is doomed and headed for $200.
In November of 2008 I called the exact bottom of the S&P at 666 a full 5 months before it happened. No one believed me then either, dismissed it as the ramblings of an active imagination.
Technical mumbo-jumbo. It drove Apple down, so it might as well drive Apple back up.
Given the current state of the economy, I don’t see it. We have 12M people looking for work. Company after company announced they will be decreasing their workforce, leading to more pressure on the jobs market. The DOW is getting choppy. After a long period of rising stock prices, such behavior is normally indicative of a turn in market direction. While it may not happen tomorrow or next week, every indication says we’re in for more misery.
just 4 words to say. laugh my ass off. it won’t happen. wake up. apple is over.
Samsung is finished cause no one want cheap plastic phone anymore that breaks easy.
I bought at 16, do you think I should hang on or sell?
Everybody knows it will be at 1600 in two years. Duh! That’s why it’s trading at 450 right now.
Dreaming…….