Why Apple’s share price could go as low as $60

“Some say Apple is headed to $200 in a year,” Ken Goldberg writes for TheStreet. “Technical analysis says otherwise. In fact, quite the opposite.”

“Back in July, the decision support engine warned to exit Apple shares while they still enjoyed triple digit pricing status. Within a month, share prices fell from the 125-zone to the August 24 low near 90,” Goldberg writes. “They’ve bounced nicely since, but are not done fulfilling their destiny, which includes a probing of the 75 +/-5 area, with growing probability that 60 +/-5 will be seen.”

Goldberg writes, “The Apple is about to fall farther from the tree than it did at the August harvesting.”

Read more in the full article here.

MacDailyNews Take: $60? We’d certainly back the truck up for that.

[Thanks to MacDailyNews Reader “David E.” for the heads up.]

33 Comments

  1. At $60, wouldn’t that mean that the company is only worth the cash on hand with zero future prospects? In other words, even if apple never sold another product ever, the stock would be worth $60 a share. Reveals the extremely hazardous myopia of purely technical analysis detached from fundementals.

  2. Apple stock is now at the mercy of external forces. The first hit was delivered by unfounded fears. Now we have the interest rate hike coming in a month or two and also the craziness within GOP Congressional majority will give us big government shutdown in November over debt-ceiling. If share price can’t up in the Holiday season, then it won’t in the next year. The only person who controls the destiny of Apple is Tim Cook. If he makes a big product announcement or acquire a big company that would change the conversation and help the stock. But he is unlikely to do any such thing. I think 90 or 85 is a real possibility.

    1. When people like you stop buying the stock, it goes down. When institutions sense that people like you aren’t buying the stock, they sell and the price goes down. You personally, have the power to raise the stock price by buying. You are not powerless. The economy is based on what people like you decide to do on a daily basis.

  3. There are dozens of companies whose stock should be below $60. Apple is not one of them. Amazon, Facebook and Tesla come to mind. They are not even generating income worth talking about. As for dividends, that’s not gonna happen anytime soon with these losers.

  4. So, one headline says the stock is undervalued. This one says it’ll fall badly. And another states they sold a record 13 million iPhones in first weekend.

    Just another crazy day in the world of economics…

  5. The headline promises “why” but the article offers none of it. Unsubstantiated forecasts are worthless. That said, as a (retired) economist, I’ve always deprecated and scorned investments in listed companies. The stockmarket is little more than a lottery with an equal number of winners and losers. Unlisted companies always offer better security. No client of mine has lost a single dollar in 50 years of advising them. However, if I were forced to invest in listed securities, Apple stock would be my choice, including right now. At the end of the day, the market will inevitably shrug off the insanity that currently dominates the price of the stock. And BTW WTF is the “Decision Support Engine” anyway?

  6. Oh look. The DEcision Support Engine is a tool of some fucking email spammer called MailChimp. No kidding. “MailChimp is an email-marketing service that serves more than 9 million companies of all shapes and sizes, from all over the world. We send more than 600 million emails every day” No wonder the planet is warming up, with the increase in electricity generation needed to power this and similar assholes. CEO is some nut called Ben Chestnut. One of the online world’s most hated — an email spammer. Wow.

  7. Simple way to solve the problem. Apple spends lots of money on buy back. If they reduce little bit buy back and pays say $6 to $8 as a dividend, then shares will start going up.

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