“I am not selling any more Apple based on my price targets. I will sell more Apple when the chart turns,” Stephen Guilfoyle writes for Real Money:
It was not so long ago that I wrote you and said that if [AAPL] shares somehow reached my target range (at the time) of $258-$269, that I would take some off (and I did). The shares have not traded below their own 50 day simple moving average for anything more than a couple of days since early June. The 50 day SMA stood at $194 at that time. These shares closed on Thursday night at $309.63. That’s almost 60% in half a year, for a (very) widely held multi-mega cap name…
I am cancelling my most recent price target of $310. Why? Because this is silly. I am not selling any more Apple based on my price targets. I will sell more Apple when the chart turns.
MacDailyNews Take: May the great awakening continue to spread far and wide!
Apple is not a normal company. Apple is rare. When they do something like stopping the reporting of unit sales, it’s not to hide something, it’s to illuminate something else… Apple is “damaged” only in the eyes of investors who cannot see the forest for the trees… Someday, Apple investors will look back on this period that Apple’s stock price is currently enduring and laugh while they count their money! — MacDailyNews, January 18, 2019, on which date AAPL closed at $154.50 (vs. today’s close of $310.33).
Interns, TTK! Prost, everyone! 🍻