A huge new rally could be in store for Apple

“A technical analysis of Apple stock suggests that shares of the tech giant may see new all-time highs,” Rebecca Ungarino reports for CNBC.

“Shares of Apple have advanced 20 percent in the last six months, and nearly 4 percent alone this month. Ahead of its quarterly earnings announcement on Jan. 31, Rich Ross of Evercore ISI said the charts show an ultra-bullish trend,” Ungarino reports. “‘I think if you put aside everything you think about the company, when you break it down on just a technical basis alone, you’re staring at a very bullish stock chart in the short, intermediate and long term,’ Ross said Wednesday on CNBC’s Trading Nation.”

“Examining a chart of Apple stock since 2011, in which the stock traded around the $50 level, Ross points to a ‘strong case for a breakout to a new all-time high’ because a technical symmetry has formed between the decline in shares in 2012 and 2013 and the decline in shares between mid-2015 and mid-2016,” Ungarino reports. “Over six to nine months, Ross sees the potential for upside to $135 per share, with the possibility to reach the $150 mark in the next year to 18 months.”

Read more in the full article here.

MacDailyNews Take: A new string of “all-time high” posts would be almost as wonderful as seeing new Mac desktops and strong, aggressively-priced iPad updates hitting the market in adequate supply.

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  1. It was all going well until she spoke of the symmetry of the decline in 2012/13 and that of 2015/16. Once people start talking about the shapes and patterns made by graphs of past performance I find myself thinking of people who read tea leaves to predict the future.

    I’m not saying that I think she’s wrong to predict an upturn for AAPL, but that I think she has arrived at the right result by the wrong reasons.

    1. “A technical analysis of Apple stock suggests that shares of the tech giant may see new all-time highs,” Rebecca Ungarino reports for CNBC.

      Well in all seriousness, the pattern of leaves at the bottom of my Early Grey cup do portend an impending run-up for AAPL.

  2. You can’t have it both ways MDN, if Apple is wonderful for raking in the bucks becuase its products have mass appeal, are superior and are in demand, then chill on the double talk and stand in line.

  3. Wall Street analysts profit by feeding investors propaganda to feed stock churn, then profit from every trade. Nobody on Wall Street cares about the price, they care about trading volumes. Just because MDN likes the crystal ball this analyst whipped out this week, doesn’t mean Ungarino has a clue.

    On the other hand, from Jobs’ return until 2011, Apple reported consistent growth borne from consistent release of excellent products. Services sucked, and it didn’t matter because Apple kept releasing great products.

    The best way I see Apple could return to stock valuation more in line with the competition’s value is to return to a diversified product base of class-leading releases every year or two across the board. Timmy’s reliance on iOS app sales and his empty promises of iCloud being a workable solution is just going to lead Apple to be the next Microsoft. Apple needs to take the lead in more things than just fashion accessories.

  4. Although most analysts have positive ratings on Apple I don’t trust them one bit. Analysts don’t buy stock, investors do. I don’t see any investors wanting to jump into Apple when there are so many other major tech companies who are doing so much better than Apple in terms of share gains. Companies like Amazon, Alphabet, Netflix, Microsoft, Facebook and others are constantly being highly praised about their unlimited growth potential.

    I see far too many negative articles about Apple being limited in growth and always being considered as the big loser in everything. That has to scare investors away from the company. Besides, Tim Cook seems to be the laziest and most unambitious CEO around considering all the resources he has at his disposal.

    Apple isn’t getting into anything worthwhile while the rest of the major tech companies are acquiring so many businesses to push their revenue higher. Apple appears to be coasting while the other companies are running with their pedals mashed to the floor. It’s honestly so disappointing to be an Apple shareholder. If it wasn’t for the modest dividends, I’d be totally fed up with Apple. Apple is being run by a bunch of wussies who no longer take any chances to make Apple a more powerful company worthy of respect.

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