“Apple will kick off its Worldwide Developers Conference Monday in San Francisco,” Richard Saintvilus writes for Seeking Alpha. “And aside from rumors related to possible hardware and software unveiling, the question I’m most interested in is, “Will AAPL stock finally break above its resistance level at $133 which has served like a fortress for the past three months?” Note, I own AAPL stock and I trade a block of shares whenever it suits me.”
“I’m not expecting any new hardware announcements Monday. Software – particularly iOS 9 – is where the action will be. There will likely be a revamped OS X operating system for the new line of Macs,” Saintvilus writes. “But the real star of the show will be what Apple finally unveils for its move into on-demand music and the realm of radio streaming.”
“Any news regarding the Apple Watch, especially year-to-date sales figures (or projections) will send AAPL stock materially higher,” Saintvilus writes. “It was precisely at last June’s Worldwide Developers Conference when the narrative about Apple changed. Innovation was back. Growth had returned, facilitating the commensurate demise of Samsung and the recent struggles seen in Google; and neither company has yet to fully recover. What has AAPL stock done during the span? How about soaring 50% from a split-adjusted price of around $90 to its recent 52-week high of $134.54. And there is evidence to suggest that Apple – following its WWDC event – will heighten the pressure on its competitors, while at the same time sending its shares towards new heights.”
Read more in the full article here.
MacDailyNews Take: For what it’s worth (not much), with AAPL stock, we’ve learned, anything is possible. What do you think? WWDC a catalyst for AAPL to go higher, lower, or no catalyst at all, leaving the stock just treading water?
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