“Tech behemoth Apple just hit highs not seen since April. This comes as Warren Buffett’s Berkshire Hathaway upped its stake in Apple by 55 percent as of June 30,” Ungarino reports. “And one trader says some upside, perhaps over 14 percent, could be in store.”
“”‘Below 100 bucks, you buy this stock, and I think you can trade it up, and you can trade it in a range of $100 to $125,’ said David Seaburg, head of equity sales trading at Cowen & Co. ‘I really believe it’s a buy,'” Ungarino reports. “The high end of that range would be about 14.3 percent higher than Tuesday’s closing price of $109.38.”
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Don’t trade AAPL, own it. – Jim Cramer
Here’s why Warren Buffett added to his Apple position, stock going to $150 – August 17, 2016