I posted just last night noting how Apple has been trapped under the 50 DMA for the last three months. Today Apple burst above that blue line, gaining over 2% on the session and closing above the 50 DMA. It's the first bullish sign I've seen from the stock for some time. There was a solid bid under the stock all day and it didn't fade into the close as other tech stocks did (Google in particular weak on the day)
What now for Apple? I said to buy at 110 (ish) before earnings. Is 113.80 still a fair price? - I think it is and you'll be happy to have bought at this level in the coming months when the new iPhone sales are reported. And with the fortress balance sheet, there isn't a lot of downside.
Short term rating = BUY
Long term rating = STRONG BUY
What now for Apple? I said to buy at 110 (ish) before earnings. Is 113.80 still a fair price? - I think it is and you'll be happy to have bought at this level in the coming months when the new iPhone sales are reported. And with the fortress balance sheet, there isn't a lot of downside.
Short term rating = BUY
Long term rating = STRONG BUY