Carter Worth: Apple stock is an ‘epic bounce candidate’

“It might be time to sell stocks and buy Apple, technical analyst Carter Worth said Monday on CNBC,” Bruno J. Navarro reports for CNBC. “‘The volume in the case of Apple is almost 10 percent of the float that’s turned over in the last two, three days,’ he added. ‘That’s typically cathartic. It’s the opposite of what’s going on in the market.'”

Navarro reports, “On ‘Fast Money,’ Worth looked at the parabolic move the stock has had over the past year, from $425 to the $700 level and back down to $425. ‘At this point, it’s an epic bounce candidate,’ he said.”

Watch the video in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

18 Comments

  1. If it’s such an effing deal why did the stock stay dead in the water?

    My buy order is at $400 as I have said. At posting in aftermarket it is $450.32.

    How are all you fanbois who bought at $500, $600, $700?

    1. Yes sir, you indeed have said $400 all along. I was beginning to wonder if you might be correct. You at least got close. But I think you’re going to miss it. And no fanboy here, I got out at $700. I have seen Carter Worth numerous times and he does seem to be very creditable if you believe in chart technology. And I believe it has it’s place in research. Looks like we’re due for an upswing, at least in the near term. But I would be cautious if entering here as we may see the old “dead cat bounce”. If you took your profits and have been waiting, this might be a time to stick a toe in the water. For those under water, pray! AAPL may go *Boom*Boom!

    2. You act as if this is a video game. Most of us who invest are trying to build a better life for ourselves, our families, our children. Why would you celebrate someone losing money, perhaps for their childrens’ college plans down the road, or for a better quality of life now? I don’t believe that life is a zero sum game – that in order for me to win someone else has to lose. It doesn’t have to be a short vs. long game. It used to be that everyone prospered when stocks rose. But now, with this cynical short game, which is basically a bet against humanity, a win/lose dynamic prevails. Why would anyone prefer that over a win/win?

      1. Careful there zevfan, according to GM nobody was smart enough to buy AAPL at $7.50. We’re all liars.

        Of course, if I’m not mistaken he said he started investing in AAPL in 2009 and bought his first shares at $50. Now that really would be an impossibility.

    3. “stay dead in the water”? Since When? Apple is up further now (even after the huge retreat) over the past five years more than the vast majority of other stocks.

      Yes, Apple has a lot to fix before AAPL goes back to $700 (and bigger dividends and bigger buybacks are NOT on the list to fix). However, I’m confident that Apple will fix them — not as quickly as I’d like (last October would have been that time frame) but Apple will fix them.

      While I know I shouldn’t feed the trolls:
      And people who buy stocks at $700 a share are not “fanbois”. The stereotypical “fanboi” can’t buy even one share at that price.

  2. it’s temporary rebounce just like few weeks ago. apple stock is already lost and continues to drop until it will find right price. $400 line will be broken soon.

  3. Regardless of the price, the combination of an exceptionally strong balance sheet, excellent earnings, strong earnings growth, products that people love enough that they make the decision that they aren’t just going to be a mobile user, but they’ll invest in Macs, too. For the whole family. And a ridiculously low P/E for a company that bears those characteristics — and has for several years now. Apple is the only successful tech stock with the P/E of a reasonably profitable company within an industry that has grown all it’s going to grow. Apple is NOT that kind of company, and the market will adjust. Apple is, at the moment, a $1,000 stock. HURRY, NOW 55% OFF, until the market wakes up, and the manipulators get caught with their pants Dow-n.

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