Analyst: Apple stock primed for new all-time high

“After a stellar start to 2015, Apple stock has been stuck in neutral,” Amanda Diaz reports for CNBC. “But if history is any indication, the company’s stalled rally is setting up for a perfect buying opportunity.”

“‘I think this tight trading range is really just healthy consolidation,’ technical analyst Ari Wald said Wednesday on CNBC’s ‘Trading Nation.’ ‘The stock had moved up a lot, and it’s just moving sideways to work off some of those overbought conditions,'” Diaz reports. “According to Wald’s chart work, the recent activity in the stock has an air of familiarity. ‘It’s interesting to me the similarities between now and the summer of 2010 when Apple moved sideways for a number of months following a major breakout and then resumed higher.'”

“‘I think we could see continued [range] trading for another month,’ said Wald, head of technical analysis at Oppenheimer,” Diaz reports. “‘But we think the next significant move for Apple is higher. And the level we are watching is $145.” That’s a nearly 12 percent move from current levels and would mark an all-time high for the stock.'”

Read more in the full article here.

MacDailyNews Take: Ah, the tea leaves…

12 Comments

  1. Says who? I’d be amazed if it got to $135. I’m not blaming Apple or Tim Cook. You see what crimes the big banks have been committing with money manipulation? Wall Street is probably worse. Apple shareholders are not the chosen ones. The shareholders getting all the money are the ones holding the stocks with the daily ballooning P/Es. Apple’s P/E has shrunk. As Apple makes more money, the share price gets relatively lower. Of course, I may be wrong but I don’t see the share price going up any time soon.

    I personally fear another decent quarter sending Apple’s share price down again and that makes no sense at all to me. Wall Street is betting against Apple constantly with their “zero growth” theory. Every current Apple quarter is being valued as a poor future quarter which makes quarterly earnings rather pointless for Apple.

    1. You are a complete moron.

      The stock is completely embraced by Wall Street, as evidenced by institutional ownership. The “manipulation” against it only exists in your pea-sized mind. Actually, pre-split, it has gone from $6.56 to $910.36 in the past eight years, a performance which exceeds virtually any stock.

    2. The A Holes of WallSteet are PRAYING WindBloze comes to rule the day once again…. News .. Ain’t gonna happen anytime within the next 5 years. People who doubt AAPL are gonna loose big time.

  2. $245 sounds more realistic especially once when investors finally realise how much they’ve been fleeced by so-called anal-ists. The day of reckoning among tech stocks is fast approaching and it’s going to be hideously ugly for Google, Amazon and Microsoft.

  3. A worthless article based on technical analysis.

    1. Consider the source: CNBC. The persecution rests.
    2. If you are a long-term investor, and if you want to be successful, I urge you to own equities that way, a short-term view like the one described above means nothing.

    I don’t care what Apple will do in a week, a month or a quarter, because I plan to hold my shares and reinvest my dividends for decades. A $245 price target won’t matter 10 or 20 years from now, because I expect the value of my shares and reinvested dividends to go way beyond that.

    Worrying about a stock’s price on a daily basis is a recipe for a coronary event. I can assure you that Apple’s stock price will go down. And up. And down. And up. But in the long term, many years from now, as long as Apple continues to operate like it does today, I will wake up and find the value of my combined investment in Apple should be orders of magnitude beyond what it is today.

    So leave all the hype, noise and fear for CNBC. Go outside. Get a life. Let your investments grow.

    You’re welcome.

  4. What is the penalty for an analyst is wrong?
    Is there a site that keeps score on analyst?
    Has an analyst ever been sued for providing a poor or wrong analysis?

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