I believe in $AAPL still. A lot of people have written them off for dead saying the Apple Watch is shit, the iPhone is not getting any better and is the same thing every year. No new products. No growth. Blah blah blah.
I disagree. Heavily.
AAPL has over $200 Billion Dollars in Cash. This is an absurd amount that continues to grow even with their current “weak” products of the same old iPhones and boring Watch.
Which brings me to my next point, the Apple Watch just set records this year as reported by Tim Cook during the first week of Holiday shopping. Yes there were reports that the watch was not doing well, however that is MSM about to be wrong yet again. There were A LOT of people waiting for the second apple watch who passed on the first watch (which I got and really liked and my wife stole from me). I believe this is going to be a big time hit over the next year and the watch is here to stay in the future.
I am not sure exactly what Apple has in store in the near term. It a TV, a Car? I’m sure it’s something no one really knows yet, but they have the engineers and the cash to do it I know that.
Now look at the chart below. I see a longterm wedge being built and if AAPL can break upwards of 115-120 I see this blasting to new highs in 2017.
Now for the real shocker, and I am sure I am going to get some hate for this. Look at the monthly chart below. Does anyone see an obvious pattern? This is in a very longterm uptrend and I am expecting a hold of this $105 price. Why wouldn’t I? it has not held below the 40 month MA for consecutive months in over 8 years Why would I not give the stock the benefit of the doubt here?
I am seeing AAPL as a leader in 2017 and see it going up 45% from these current prices.
Adding AAPL to the LT Swing ideas over 110.31 with a stop and close below 104.
*All of these are my opinions and not investment advice.
12/09: I am going to hold this Long because I am Long Term Apple here. Stop below the 200 day down at 105
12/19: I have decided to close out this AAPL idea here. I know I have my long term price target of 160 but that was before everyone decided to get some damn bullish with this run up. I think Bulls are toast for a while and if the AAPL train leaves that is fine but with the market extended I do not want to risk this. Closed 116.59.