A lot of price resistance to get through though... would think AAPL would trade more like a Treasury in times like now, but it just doesn't. Good yield and much better upside.
Maybe need to go through some pain before earnings. That should right the ship.
Also technical timing to note...not a lot of people follow it, but when you chart the low to low points you'll see March 12 - May 6 = 39 trading bars; Mar 6 low to the current low is 38 trading bars. Symmetry in time can mean resistance (1 day variance allowed, so yesterday is in the window). I know it sounds whacky, but it works, especially when the stock/index is extended, which AAPL is, i.e. it hit a 1.272 Fibonacci extension yesterday.
I'm not really following the tv concepts/discussions re Apple and all its software, streaming, content deals...but anyone know if they could possibly be going after Netflix?
And out-of-the money leap (long term option) premiums can also added to the stock price for a long term capital gain, rather than a short term gain. For the strike price, though, you need to add 8% to the current share price on the day of the option sale and drop 1 strike price from there though for it to be IRS-legal. So 130 * 1.08 = 140.40....can sell the 140 strike. If you get called at 140, the premium is added to 140 and all is considered a long term capital gain. This strategy works better when leap strikes are larger increments.
Huberty is the most reliable analyst on AAPL. She's been bang on with her AAPL estimates, especially iPhone projections. She specifically told the market to pull the trigger on her iPhone demand analysis in the past and has been right on. She did it again yesterday and upped her PT to $161. It was just what the doctor ordered ... AAPL is on a great path to $137.58 in the near term and $141.45 mid term (Fibonacci targets), but the overall market is jittery at these highs. Huberty offered real confidence with real numbers. IMO, hold.
$137.58 looks doable with one last resistance line at $133.44 to get through. I would normally be very confident right here, but the market is not getting a blow off top. Portfolio insurance - aka SPY Puts - may be needed.
Tim Cook said in a recent earning calls that China will surpass the US in sales....and from the last earnings call, the numbers prove they are on their way. The market just doesn't give AAPL enough credit at this low PE. IMO, Icahn is right ... $200 is a solid long-term target.
NFLX skyrocketed on news that it's entering China (okay, sour grapes). Apple is already rocking China, with its conservative CEO's prediction that China will be their #1 revenue stream, and the stock is up just 25% from its 2012 highs? Go figure. But know this: there is room to run. They'll be technical pullbacks here and there (nothing goes straight up), but AAPLis a solid stock to own.
Technically, the stock points to a short term target of $137.58 and medium term target of $141.45. There is some resistance, though, at 129.35 that it barely eeked through this week. More resistance above, too, at 130.27 and 133.44.
It's a weird market right now. If the S&P goes up 5-10 points from here, euphoria will probably ensue due to some follow through. But there is formidable resistance at 2138, and that could mean reversal time. I'm looking to sell calls up there, and maybe even buy some puts with my call money.
Selling covered calls a great strategy .... I don't understand why everyone "chasing yield" doesn't do it.
When volatility was higher you could get an 8% annual return on the premium of a 10% out-of-the-money call. ... with div, you could make 20%. In 2012, I bought AAPL at 520 and sold 570 calls for $50...then AAPL dropped to $390. It SUCKED, but I made 10% cash that year and held the stock. Those same shares are worth 910 now. My point is it can work as a hedge too if the market takes a turn.
You may be right....LONG term, it's targeting $175 from a technical standpoint. Next couple of weeks, targets are 136.86 and 141.00. Looks like it's going slow and steady.
Stock was going down at this point from 133 to 128. Everyone getting nervous. Everyone saying no more catalysts.
There is a wall of resistance from 69.70 to 70.39 and then some more one step higher at 71.89. SOHU's tried twice to get through the last couple of trading days. If the QQQs keep rocking and some more Chinese tech co's beat, it could/should break through...and then it will have room to run up to the 78s. GLTA.
Target 1=136.86 then Target 2 =$141.00. Unless there's some crazy market sell off, I wouldn't be surprised to see both targets met within the next couple of weeks. AAPL should actually be a safety buy for investors (good dividend with growth), but for some reason, people would rather buy Treasuries.
That's what Tim Cook said in a recent conference call. If you look at Apple's Annual Report, Apple did $65.2 Billion in Net Sales in the Americas; Greater China did 29.8 Billion. So Tim Cook's prediction means AT LEAST $36 Billion more in net sales coming from Greater China.
From a technical basis, the long-term target for AAPL from here is $174.68. That is the 2.618 Fibonacci Target (3rd and final) off the weekly chart. AAPL has already surpassed Targets 1 (113.16) and 2 (128.93).
Maybe Carl Icahn isn't so crazy.
For short term upside, i.e. a move after a good earnings report.... Look for Targets 1 and 2 off of the Daily Chart: $136.86 and $141.00 respectively.
Failed at 127.31 (called 127.32 resistance) and made a new low at 126.61 (support here). If that low stays in tact tomorrow, then would need to clear 126.20 by a decent margin to start moving toward 129 target.