AAPL Going Strong (AAPL, rated BUY)
Posted on December 25, 2007 at 18:13 PM EST
AAPL has been a strong performer this year. With holiday sales up this year from last and AAPL gadgets on high demand, I expect to see a estimate-shattering Q4 earnings and sales report. AAPL is also in a very strong technical position due to the recent market rally. Last quarter earnings and sales forecast beat Wall St. estimates and propelled the stock higher. Strong fundamentals will keep driving this stock higher. Some technicals from my chart: 1) The stock has been trying to break out above its previous high back in the beginning of November at about 192 and the last trading day brought the stock well above the resistance area. 2) The MACD is making a bullish cross-over and indicates an uptrend for the stock. 3) I don't expect this stock moving explosively up in the short term, due to the high RSI indication almost at the overbought area. Although it doesn't mean the stock can't move at the same rate into higher prices, it simply means don't be surprised to see this stock go horizontally for a bit. Overall, I see this stock climbing higher.