With Buffet increasing his stake, Goldman keeping the name it in its conviction buy list and the stock breaking above the declining TL from a multi-month descending wedge, the path of least resistance is up. $103.86 - $105.00 is the ideal buy-in point for a long term trade, but knowing the market, they might just let it float at these prices before pressing higher. If AAPL surpasses its 52-week high, it has room up to $144.
Personally I think Apple is still an undervalued stock, there may be macroeconomic events and subjective speculation that results in set backs to Apple reaching its intrinsic value for a while but I have faith that it will outperform the market in the next year. Carl Icahn did make an interesting point about China however I think we can discard that having an effect specifically on Apple - it would have a far greater effect than just this. Now that Buffett and other reputable names have pushed the buy on this stock I see no reason why it will not outperform the market, potentially at its current price.
Yeah. It's been quite misjudged lately, so now seeing all the support from the powers that be, I'd expect a strong sentiment shift towards bulls.
I like how with this kind of stock that doesn't see that many drastic changes people base their short calls often on personal sentiment. Aka "Meh, Apple's boring now, no innovation, selling everything". A few weeks later: "The greatest stock that ever existed. Super strong buy". Meanwhile I'm sitting here reinforcing my position from time to time...
In March the 100 DMA was resistance, can the Sept 7 iphone 7 launch disappoint? buying some puts to hedge
The bulls managed to buy below $108 but how long will it hold? So far the buyers are in a full control but facing challenges.
$103.86 to $105.00 finally may get contested. $100.95 - $105.00 needs to hold short and long term to avoid another weekly 'lower high' from forming. A break below $100.95 leads to a re-test of the lows. Only a trade above $115.64 puts the stock in a position to contest and surpass the highs for a trade up to $144. $96.79 is the key point to this consolidation phase.
I mean they're announcing the new iPhone and iOS version... It's always quite exciting for me even though I'm most probably not upgrading this year.
Golden cross is coming but in the short term expect som downside pressure. It looks buying opportunity
Back in my university days several years back, I always wanted to hold Apple stocks, especially during the Steve Jobs era. Now that I can afford buying into it after their stock-split, I've held back because I think Apple lost it's soul and innovation mind in Jobs. There is a concern that nothing revolutionary has been released for several years now. Smartphone market is maturing, developing countries don't buy $1000 smartphones with brands in China offering sub $300 phones. The strong incentive right now for buying into Apple is Buffett's new position in it. Apple Pay is also interesting to me, but not sure if they'll become a strong competitor in this business against Visa, Mastercard, Amex, etc... If Apply Pay really takes off, that could be a good future revenue stream through.. I've been looking at a ~$101 entry point for a long-term hold (not trade).
I think its that innovation can only go so far with current technology. What else besides thinner phones can we expect?
Agreed. Looking at monthly chart Moving average (50-month) and momentum indicators pointing to a bottom. Relatively speaking, it's in the same position as 3 years ago; August 2013 was an inverted green hammer (just like this August was) and September 2013 was a red candle. But then things really got going, doubling in 18 months. Hard to say if that doubling performance will happen again, but if it does then AAPL would be $1T market cap in April 2018. That's getting ahead of ourselves. $103 looks like a good entry.
