Technical analyst: Apple is about to hit all-time highs

“The Apple magic appears to be back,” Stephanie Yang reports for CNBC. “Over the past five sessions, the tech giant has risen 7 percent.”

“And according to one technician, there’s a lot more upside ahead,” Yang reports. “‘The chart looks great — it’s quite bullish,’ technical analyst Rich Ross of Evercore ISI said Thursday on CNBC’s ‘Trading Nation.’ ‘The very-well-defined uptrend remains intact.'”

“In the short term, Ross expects Apple to rise to $144, and he believes the stock could ultimately reach $160. If Ross’ call plays out, Apple would easily surpass its all-time high of $134,” Yang reports. “Apple is set to report earnings on Tuesday.”

Read more in the full article here.

MacDailyNews Take: From your lips to Mr. Market’s ears.

[Thanks to MacDailyNews Reader “Lynn Weiler” for the heads up.]


  1. what’s interesting is that AAPL’s PLUM trajectories are still pre-YTD TOST +-BUN from China, Brazil, elsewhere.

    I’m thinking once the market catches up with BACN +- BUN, and of course next generation Watch and TV offerings, AAPL will easily add another 20-30 points.

    1. Plus, at this critical juncture it’s difficult to determine whether we’re looking at a bearish drowning giraffe candlestick, or a three-point shooting star diarrhea signal.

  2. Google (13%), Amazon (10%) and Netflix’s (18%) share price all soared upon earnings. Investors were happy with those stocks. It probably won’t happen with Apple. Wall Street has a bone to pick with Tim Cook and Apple shareholders are going to get screwed. Each one of those companies P/E expanded greatly. It’s almost certain Apple’s P/E is going to compress. None of those companies offer dividends or is putting as much into buybacks as Apple. So far Apple has spent tens of billions of dollars in buybacks but has gotten back almost nothing from it.

    I believe Apple is trying very hard to boost Apple’s value but it always goes to waste and Amazon always makes Apple looks downright stupid when it comes to returning shareholder value. When it comes to Jeff Bezos and Tim Cook, Jeff Bezos wins big every time. Everything Amazon does, investors love. Everything Tim Cook does always disappoints investors. Apple’s institutional ownership hasn’t budged over the last year and actually dropped a percentage point.

    It’s almost a guarantee Apple’s share price goes nowhere (1% or 2%) upon earnings while investors throw all their money to Google, Amazon and Netflix. Go figure. I think as long as Apple’s overseas cash is locked up, Apple’s share price won’t even get close to target prices. It’s just an unfortunate situation for shareholders of a company that’s practically untouchable when it comes to making money.

    1. Amazon and Netflix stocks are different from Apple’s. They are pure growth stocks (next to no profit) and are punted by the brokers. Hence the high P/E ratios. Google have a virtual monopoly and is treated as such.
      Apple is unique in that it has both growth and profit. The market knows this and can make easy money moving cash in and out as the stock fluctuates.
      We just has a combination of China fears and Apple Watch reported low sales that drove the price down to ~120. It’s already back up to the levels before that and is primed to make a jump come earnings. I bet a lot of positions were taken at the 120 mark knowing full well the stock is due for a rise. Now brokers are beginning to tell their clients to buy in to get the price up.
      FWIW in the last 12 months aapl has outperformed both GOOG and AMZN. Only Netflix is up more. For the long term investor you have to ride out the dips. I did that when the stock was at 400 (pre-split) and now it is at 900 pre-split.

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