Apple stock nears buy point

Apple stock is nearing a new buy point of $153.27 according to technical analysts at IBD MarketSmith.

Apple stock nears buy point

Scott Lehtonen for Investor’s Business Daily:

Apple stock is forming a new cup-with-handle base with a $153.27 buy point, according to IBD MarketSmith chart analysis. Shares rose 0.5% Friday and are just shy of the new buy point.

According to the IBD Stock Checkup, Apple stock shows an 87 out of a best-possible 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

MacDailyNews Take: The entrails are spilling Apple’s way!

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  1. This stock has absolutely nothing going for it except the buyback plan. I wouldn’t count in this thing moving up until close to the New Year. There is no catalyst for Apple while many of the other tech stocks are announcing partnerships or new category of product. Apple does have the new Apple Silicon MacBook Pros but it will take time for them to generate revenue as Wall Street isn’t going to give Apple a free pass just for putting them on the market. For me, that’s OK because I would rather the share price drop lower so Apple can buy back as many shares as possible. I don’t know how much buyback money Apple has left for the year, but I would like Apple to take full advantage of whatever cash is left.

    It’s just wishful thinking to say Apple is going up to this or that share price when there’s no reason to say it’s going to happen. It’s just there are so many other tech stocks to choose from that are performing quite well. Any smart investor would go with those momentum stocks for a quick share gain. Apple is basically locked within a narrow price range and there’s nothing more to expect from it. Better to be prepared for the usual Friday Fade of Apple’s share price.

    1. So Apple delivering staggering growth across their newer products, while blowing away the rest of the PC market with all-new Mac silicon delivering an embarrassingly fast — and completely irreplicable — advantage, isn’t worth getting excited about?

    2. Magnificent: you repeat the same thing often. Besides the very favorable reality posted by disposability, one has to ad the material % gains wrought by dividends. Also, remember, not long ago AAPL was in the low 120’s. Let’s just call it a 25% gain in months.

      What I would do is sell your AAPL stock and take a gamble on FB…they are a powerhouse of gains, with little integrity. Same with GOOG. MS may have a little more integrity and the stock has been flying. Or, join with AMZN…it’s sure to continue gaining. Besides, following e-retail is exciting.

      Since your remorse often links to observing TSLA, that would be the stock for you…even though Elon is a nut. Someday, a trip to Mars maybe in your cards.

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