Apple (AAPL) Rally Redux
Since bottoming in March at $119.15, Apple (AAPL) has rallied 60% over the last 55 trading days to $190. This rally looks almost exactly like the gains Apple saw over a 58 trading day period from August 16th to November 6th, when it went up 64% from $117 to $192. On a closing basis, Apple peaked at $199.83 on December 28th, 2007. We put the stock in our Model Portfolio at $131 on March 19th and exited the position at $185 on May 6th. Apple definitely has some wind at its back these days, but as the stock approaches $200, it should be met with some selling pressure.
It's media effect. It signals the end of the rally when you talk about it.
Posted by: aa | May 13, 2008 at 03:36 PM
well with gs and island building another staire way to heaven and the short float at less then 3 percent,and you sold? must have been those crap charts you have. well the apple cult is going to love 2.0 so we still have a few more days of up's, and dump rimm it's going down after the news of the biz iphone....may27 is the day jobs is going to do his little dance on the mornning show in ny
Posted by: jay | May 13, 2008 at 03:38 PM