Home > Uncategorized > Is AAPL stock making a move?

Is AAPL stock making a move?

I’m not a big fan of Apple, even though I’ve owned a few iPods, and I’m using an iPhone now.  One thing I heard this week is that I may not even need to know anything about the company in order to make money on the stock.   This is from an almost purely technical day trader although I realize individuals have their own style.  Everyone knows the iPad is coming out but will it be a big hit?   I decided to jump on the bandwagon for this stock on 1/29/2010 at a price of $192.50.  The main reason was that there seemed to be significant 6 month support for this stock at that price level.  Now, looking at the stock today hitting close to $220, it has cleared the old resistance of $215.  It if stays this way, it may be one step closer to what the analysts have projected:

1/26/20210 Barclays Capital  – Target Price raised to $265, closing price for the day was $205.94. Overweight

1/26/2010 BroadPoint AmTech – Target Price raised to$264, closing price for the day was $205.94. Buy

2/12/2010 Needham – Target Price raised to $280, closing price for the day was $200.38. Buy

 Here is the chart from http://www.finviz.com/quote.ashx?t=AAPL&ty=c&ta=1&p=d, I hope it closes about $219 today, above the previous ~ $215 resistance.

I’m just a rookie chart reader but I love my iPhone and I’m banking on more people around the willing buying more iPhones when certain carriers lose their exclusive rights to sell them:

I’m planning on posting some statistics this weekend that I gather from all the analyst postings in the last month.  Unfortunately, this is more data than I thought I’d ever have and I haven’t found the time yet to look through it.

UPDATE: No posting this weekend, one of those adware programs wiped out my computer and I had to do some major clean up.   Let me know if you have this problem where ads pop up for antivirus software and fake virus alerts pop up.   I’ll tell you how I fixed it.

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Categories: Uncategorized
  1. Jason R.
    March 6, 2010 at 4:55 pm

    I have my doubts that the iPad will be a hit (I don’t think consumers understand what its value proposition is yet), but at the very least the speculation around it will undoubtedly drive up the share price until sales figures start coming in during Q2.

    • March 7, 2010 at 4:56 am

      I didn’t think that the Amazon Kindle or Sony Book Readers would take off as much as they did either. A couple other companies that sold their own were sold out for Christmas and the iPAD seems much better and it seems to be at a reasonable price point.

  2. March 30, 2010 at 8:24 pm

    Credit Suisse raised the target price to $300. Hopefully the CDMA phone will come out for Verizon, and the IPad sells well. I’ve been reading that the first batch of IPads for pre-order are sold out.

  3. October 18, 2010 at 8:51 am

    I am doing research for my university paper, thanks for your excellent points, now I am acting on a sudden impulse.

    – Kris

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