Analyst: Apple may hit $545 to $570 after bearish-to-bullish reversal

“Ahead of Apple’s iPad event on Tuesday, a technical analyst says the tech giant’s stock soon could rally to a range of $545 to $570,” Victor Reklaitis reports for MarketWatch.

“Carter Braxton Worth, chief market technician at Oppenheimer Asset Management, makes this prediction based on Apple looking like a ‘bearish-to-bullish reversal buy,'” Reklaitis reports. “The ‘prospective completion’ of the pattern “implies a move to the $545-570 range” for Apple, he wrote in his note.”

Reklaitis reports, “When it comes to the stock market overall, Worth is holding to a bearish outlook that he’s expressed previously.”

Read more, and see the stock charts, in the full article here.

16 Comments

  1. Thank you Mr.Tim Cook and Apple’s teams that I have made some money finally. May you guys continue doing what you are doing best. Have a great Thanksgiving breaks you guys deserve it.

    1. They have let go and moved on. Cook =|= Jobs so the premium attached to Apple shares is gone, gone, gone. Gone down the drain hole until a visionary (Forstall in a second act maybe) comes along to justify the sky high price.

      1. Jobs, the only musician in the orchestra. When he died the music died. What total crap.

        There are hundreds of people working on every facet of Apple’s business strategy. Thousands and thousands of very talented people.

        To think it will all collapse two years after Jobs’s death is absolutely trollish nonsense.

    2. As much as I appreciate your sentiment, and being a long Apple/AAPL Bull (since 2004), AAPL has traded exactly where it should, based on Apple’s performance from April 2012 through September 2013.
      Before igniting flames, examine Apple’s 10Qs going back to 2009. The reason for AAPL’s sharp decline becomes obvious when doing YoY comparisons.

      1. … data? My valuations, like most in the stack market, are based on – among other things – the P/E … trailing (because you can actually measure it) and leading (more accurate, but usually just a guess). AAPL’s P/E has suggested it deserves a higher stock price since before it hit $700! Many stocks have seen higher P/E valuations despite lower profit levels – recently.
        Unless you see a reason the P/E is going to crash, show your data and compare it to Amazon, Google, MSFT and any of several other similar companies.
        BTW: the P/E does not – though it ought – make any provision for that huge pile ‘o cash under Apple’s mattress. A pile quite unlike the debts most of those others are hoarding.

          1. … terms, similar to those three other companies. They are all “tech” companies, for example.
            I agree there are certain obvious differences between them, but we are talking STOCK PRICE here, not product quality or the like. I take it you do not follow the stock market in any depth and can be excused your ignorance.

    3. If you really think AAPL is a $700 to $900 stock, would you pay that for it right now? I thought so. It is priced right where people are willing to buy it and sell it. That is called a free market.

      1. … buy a stock at “$700 to $900” when it is selling for just over $500? Makes no sense! Or is that “cents”? He is saying it should be worth more than the current market value suggests and is a good buy at the current price. AND, that it would not be a good SELL until it hits the $700+ range.
        Do you not understand the concept of “market”?

  2. Let’s see this clown is bear on the market overall while S&P makes new highs and then thinks Apple’s gonna to 545 575 I think is wrong I’m both counts Apple’s going to 600

    1. I hope you people don’t get carried away by all this talk of Apple moving up big in share price. Apple is nothing like Google or Amazon. Big investors love those companies. Apple is one of the most disliked companies on Wall Street. Those guys can’t get their hands on Apple’s reserve cash and they’re fully pissed off about it. Tim Cook is on every fund’s sh!t list. Don’t even dream of a share price rise of even 5% in a day for Apple. Wall Street knows Larry Page and Jeff Bezos will do anything to destroy their rivals. Apple, not so much.

      I’m just saying to temper your enthusiasm because most of you should still remember what happened last year and the same thing can happen again at any time. Don’t be surprised if Netflix’s share price passes Apple’s by the end of the year. Some companies have the sweet juice and others only leave the taste of vinegar in your mouth. Just pray Apple doesn’t plummet on earnings. Only Apple pulls back on earnings unlike Google or Amazon that just keep climbing. You can hope for the best but just be prepared for the worst.

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