This latest price action wasn't the best after earnings - and if you pressed me one way or the other to 'guess' the number we will see first - a new high or a break of 119, I think a break of 119 is more likely. Yes, I still believe Apple is going higher (much higher) on the back of continued iPhone sales and the massive (and growing) cash horde. However, that doesn't mean the stock will go to the sky in a straight line. There may be a sell-off or two tossed in there by those that see the Apple Watch failure and slowing growth as a reason to get out of the stock.
Bottom line - watch for weakness to buy. A break of 122 is a buy signal as anything below that level is a good value (over 1.67% yield on the dividend). The 'buy buy buy' target is any number below 119 as that will represent a yield of over 1.75.
Watch Apple this week and get your buy button ready.
Short term rating = HOLD/BUY (on the exact line of waiting and buying)
Long term rating = BUY