“Apple (AAPL) is no more than one or two days away from kicking-off a massive move of epic proportions,” Andy Zaky writes for Seeking Alpha.
“People are going to look back at this time as being a pinnacle moment in Apple’s history, matching the other major moments of July 2006, July 2007, March 2009, August 2010 and June 2011,” Zaky writes. “Each of those months marked either a major turning point or the beginning of a massive move for Apple.”
Zaky writes, “At the current moment, an enormous symmetrical triangle is forming on Apple’s 60-minute chart. This indicates an immediate move up to the $430 level on a short-term basis on a breakout. I believe Apple could trade above $430 just before or after its fiscal Q4 earnings which are due out near the end of October.”
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“Bullish Cross is not yet confident enough to initiate its rare and extremely proficient buy rating. But we think that it’s pretty darn close to call, and if it weren’t for market uncertainty, we would be initiating a buy rating and an October $430 price-target,” Zaky writes. “The fact that we’re even willing to discuss the idea of a buy rating means we feel pretty strongly that Apple will soon be making a massive breakout the upside.”
Read much more in the full article here.
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]
Forget about “triangles” and “charts”… 🙂
AAPL price has been “artificially” (if that’s the best word) lower than it should have been, because of ongoing concerns about how long Steve Jobs would remain Apple CEO. Well, he is no longer CEO, yet AAPL did not take a dive. In fact, it is now higher than two days ago when Steve Jobs was still CEO.
So now, the ongoing concern about the impact of “bad Steve Jobs health news” is mostly relieved. AAPL price should jump to where it should have been in the first place, which is probably in the $430 area near term, like this guy predicts using his mumbo jumbo.
Zany is always dead on the money.
500-550 before jan 2012 earnings
Zany zaky
Wow, you are kidding me. A company that grows 80-100% annually might actually go up 10% after earnings? How much will it cost me for our exhausted knowledge?
But just in case it doesn’t, you can always say you didn’t make the buy call!!!
Way to kiss your sister but not quite get married.
These idiots are clueless. Last year, AAPL stock moved up 51.3% after the August 24th low as it grew to January’s or February’s high. This year, it dipped a week earlier, Apple has better products, devices, in more countries, has more carriers for the iPhone, (got the 3rd largest carrier in China to sign up for the iPhone), Steve’s health question and will he come back as CEO is over and settled, the billion dollar server farm is up and running, … AND THEY COME UP WITH THIS SAD LITTLE GUESS.
Clueless again.
I really enjoy reading his articles, but he’s stated before that whatever money Apple makes really has very little connection to the share price. We all know that much. I just don’t want to buy into his predictions of moves of epic proportions just yet. It happens when it happens. I wouldn’t put it past Wall Street to find other reasons why Apple won’t be able to move higher. They can continue to make excuses to compress the P/E further.
Look at Amazon and Netflix today. Apple is doing no better than they are so it’s not as if Apple is on a lone tear despite the fact it should be moving percentage-wise better than either of those stocks. Hopefully Apple should really move when the iPhone 5 is announced on three U.S. carriers at once and iCloud is up and running, but with Apple you just never know. I have a lot of money invested in Apple and if Apple does well, I’ll have a very comfortable retirement stash. I just don’t like to get carried away because this economy is so unpredictable.
Apple is honestly beating the consumer industry to death but you’d never know it because Apple certainly isn’t going up in proportion to its many rivals decline. Apple is opening stores as a furious rate and the income is just cascading in. Apple is doing great in a bad economy so the share price should easily be doing as well as it is, but Apple is still lagging well behind the median price target so until Apple does some catching up I’m not going to get too optimistic.
Your icon says it all, moron.
Not sure “precipice” is the right word here.
The trick is (always) to buy before the stock goes up. And the words “Moon Shot” are much more likely to describe what is about to happen.