Technically speaking about AAPL
Following up on my fellow bloggers’ interest in AAPL, I see a less fundamental, more technical reason why now is the time to jump on the AAPL bandwagon.
AAPL (NasdaqNM:AAPL), since it’s 2003 technical breakout around 10 and march to the mid-80s, has not touched it’s 200 dma ever…now, in the coming days, we may be presented with the opportunity to pick up these shares at or near their 200dma. Fundamentally, I’d say the stock is still a leader, setting new consumer trends and leading the market in these new trends. You can’t stop by one gym or one coffee house without seeing someone with an iPod attached to their ear. My dentist recently suggested that I bring my iPod to my next cleaning and at my last MRI, they were offering the iPod for patients to use while receiving their MRI.
Add to this my belief that Jobs’ new relationship with Disney will simply increase the distribution channels for AAPL products and will allow AAPL to innovate into newer markets (more on Disney (NYSE:DIS) in a later post) and you have the makings of a great company in AAPL.
SO, fundamentally, we have a great company that is setting itself up to be an INCREDIBLE buy at its 200dma, right around $58/59 per share. Don’t miss out! Get your buy orders in right now!
Well – today was the day…to follow up, AAPL today hit my price target and is now almost 30% below it’s 52-week high. Sitting right at its 200-day moving average, it’s good for at least a $10 upside move (or about 15%)