“Shares of tech giant Apple are up over 1% in early morning trading reaching as high as $580 – helped by a bullish report from analyst Glen Yeung of Citigroup,” Richard Saintvilus writes for Forbes. “Likewise, early sales indicators from the Black Friday weekend points to another monster quarter for Apple. Many analysts point to the fact that Apple had not had to offer significant discounts of its iPad mini as a sign of strong demand.”
“Ahead of the shopping season, analysts had initially projected iPad mini sales to reach an estimated 5 million units,” Saintvilus writes. “However, with the device commanding such interest from retailers such as Walmart and Best Buy, it is not out of the realm of possibility that Apple might exceed that total before Christmas on its way to at least 6.5 million units.”
Saintvilus writes, “From an investment perspective, it’s hard not to like the stock at any price under $600. The stock has rebounded nicely after dropping as much as 30% a recent low of $505. The decline was largely due to concerns over the “fiscal cliff.” However, shares seem poised to regain the $600 mark.”
Read more in the full article here.
Related article:
Citigroup initiates AAPL coverage with ‘Buy’ rating – November 26, 2012
Coz big investors have collected enough AAPL, now time to push it up .
I think you don’t understand how it works; AAPL rises and falls as YOU personally purchase or sell it. Everyone who buys pushes the price tendency up and conversely, everyone who sells AAPL pushes the price lower. It is the retail public that causes the wild swings usually and the institutional buyers use that to their advantage. Try this strategy on for size: buy when the institutions buy and sell when the institutions sell. Easy right?
The institutions buy when the retail public is selling and sell when the retail public is buying. What is your tendency to do right now? I generally do the opposite of what you would do.
Cant find a negative Apple story anywhere now. This is by far the most manipulated stock in the whole market. If they can bring down Apple a stock with incredible fundamentals can you imagine what will happen to a stock like AMZN if it falls out of favor?
I have used Amazon but personally believe that it is time for its fall from grace. It is a predatory retailer that leaves nothing behind.
I would have never considered an iPad mini had I not seen it in person. I thought it was going to flop.
But after seeing it in person I now want several, I bet that’s what’s happening. iPad mini is going to surpass expectations by far and take the stock with it.
Very green AAPL in a red market is a welcome relief from the recent nasty pullback for the last several weeks. AAPL is extremely oversold and due for a strong bounce. Is it real or a dead cat bounce? I think the former and we have seen the bottom.
Yes, 600 this week it is. What it does at 600 should tell us how far up, down, or side-way it goes through year end. The AAPL year-end rally may begin today.
Apple will rocket back to 700 and beyond by early january.
The Longs that wanted to cash in on Apple stock to take advantage of the existing tax structure on long term capital gains did so by mid November. Those same investors to avoid wash sale rules will be back in big numbers by mid december.
+1. Exactly.
Wash sale rules apply only if you’re selling at a loss. The peolple selling Apple primarily for tax reasons were locking in gains. Those folks can rebuy at any time.
How can it ‘REGAIN’ $600? Apple stock was never up to $1178.00, lost $600.00 that it had previously gained in order to gain it again? Now I might buy the headline, ‘Why Apple stock might reach $600.00 this week”
I am prepared to wait until February to recoup my loss.