By my Elliott count of AAPL
-wave A down started 4/10/2012 from $628
-wave B up stated 5/18/2012 from $430
-wace C down started from $700
Wave C down should have 5 subwaves, and if you identify the gap on 1/24/2013 as 3 of 3 down,
then it is quite easy to count 4 subwaves completed.
If wave (5) of C will be equal to wave (1) of C (which is a common relationship)
then (5) should be $170 long, started down on 3/25/2013, from $470,
and should end at $300.
This will be the first really good buying opportunity.
Since the last down waves usually have 5 subwaves,
usually form a falling wedge,
it should be easy to follow this "very pessimistic" scenario.
not sure if an apple with 5-7 P/E ratio is what you wanted, cuz by then, i would doubt the company still exists. No offense but I suggest u to read more charts lol
Sentiment: Strong Buy
JBL has a 7 PE and double the growth of aapl. It can happen.
While I agree aapl will touch $300 by year end, EW is garbage. I've seen people burned many times following that trash.
His count is very wrong, he doesn't get it..... that's all
Hs entire count is wrong.. no logic to his counts at all!!.
Problem with EW is you see it as you "want" to see it...