Zaky: One last Apple pullback and then it’s up, up and away

Apple Online Store“The technical picture suggests the market, and Apple (AAPL), are in for one last pullback,” Bullish Cross’ Andy Zaky writes for Seeking Alpha.

Advertisement: The iPad. With a 9.7″ touch screen & amazing new apps, it does things no tablet PC, netbook, or e-reader could. Starts at US$499. Shop Now.

“After bumping resistance at $113 on the SPY, I think the market will sell off within the next 1-5 trading days,” Zaky writes. “Don’t be fooled by this sell-off though.”

Zaky writes, “I think the September momentum in stocks is very similar in nature to the type of momentum we saw in July 2009, and March 2010… The stock might be in for another short-lived pullback, but after that, we’re off to see the Wizard at $300 a share this October.”

Full article here.


  1. Beware of those who are so sure they know what the stock market is going to do and when, especially when the name a specific stock. Wonder if Andy Zack is invested in AAPL and has a personal reason for trying to influence anticipation. We have seen too much of this with AAPL.

  2. While I fully believe that AAPL is going to do well – compared to the rest of the market – over the next year or two, there’s no proven way to predict what the overall market will be doing over that time. Nor is there any real certainty about any stock much more than a few quarters ahead. There are just too many variables!
    Zaky is predicting a sell-off coming up Real Soon Now. And then a recovery. Which merely means a buying opportunity for those who are not selling, followed by a period of profit-taking. We who follow AAPL are well aware of the foolishness of the market swings, and the AAPL within them. It’s mostly @$$-clowns playing games with the values in order to make a few extra millions off those a) not in the game or b) not paying sufficient attention.

  3. AAPL closed at $274.074 on Friday, Jun 18, 2010. That’s after a lengthy climb from $222.2499 on Friday, March 19, 2010. However, Greek and other European debt issues dragged the entire market down. It’s not just Apple you have to worry about.

  4. At least this guy manned up and said “$300 a share this October.” Most don’t say when. Cramer upped his target to $325 yesterday. ALL THESE ARE TOO LOW!

    How about valuing Apple’s markets. It is not some little computer company like Dell.

  5. Andy Zaky has been among the most accurate at predicting Apple’s earnings and stock performance – easily surpassing the “professional” analysts over the past several years. He’s probably right – and I do believe Apple’s 4th quarter is going to significantly blow past people’s expectations.

  6. Seeking Alpha has been good about predicting earning and sales. I’m not so sure about the stock price though.

    I’ve noticed that Apple’s stock price is closely affected by market conditions. That sounds obvious but it generally takes a bigger dip % wise when the Dow goes down and vice versa. Despite all the good news Apple puts out few investors seem willing to bet on it if market sentiment is negative.

    However since the end of August it has been steadily rising. The cynical in me would say that the stock is being pumped for profit taking at the end of the quarter. Hopefully it is not and it will continue to see new highs in the 300s.

    One thing we should not forget is that aapl has been bobbing in the mid 200s since April. That means that a price of 200 is long gone and the new base is ~240. We could be in for a big rise once the brokers decide to pump it up again.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.