AAPL - Sector: Technology - Industry: Computer Hardware

[Miguel007]

AAPLE have confirmed today my analyse on Sunday, Up with very good volume, so keep attention if this stock break the 76$ in close.

This article shows something interesting
http://www.appleinsider.com/article.php?id=1500

[luka]

NEW YORK, March 14 (newratings.com) - Analyst Andrew J Neff of Bear Stearns maintains his "outperform" rating on Apple Computer Inc (AAPL.NAS). The target price is set to $103.

In a research note published yesterday, the analyst mentions that the company's iPod sales are possibly tracking in-line with the estimates. According to the analyst, the recent weakness in Apple Computer's share price presents an attractive investment opportunity, in view of the anticipated healthy demand for the company's iPod and Mac products going forward.

***and DOUBLE BOTTOM

[ScottishTrader]

I'm a long time follower of AAPL and Apple computer (as I write this on my iMac), and have strong faith in this company going forward.  However, somehow I have never really managed to make any money from their stock!!! (I know how is that possible right??? just look at the chart!!)  Anyway, it was the first stock I ever bought last yearand of course as soon as I bought it, it went down.  I've traded it a few more times since then, but maybe because it is expensive, I have found it too expensive for my tastes.

However,  I do agree with you suggestion theat we see a clear double bottom in the chart. This has come off the H&S top at the beginning of the year when Apple's hype was at its most fervent.  The price collapsed after earnings, despite the fact they were miles above street estimates and the highest in the company's history, supposedly because this quarter's earnings predicitons were below what the street expected.  But their predictions were for the secongd best quarter in the company's history after the last one!!  Plus they were being conservative as ever as this will be the first quarter of the Intel transition, and it remainedf to be seen how that would go.  By all accounts it has been going exceedingly well.  They have had trouble keeping up with demand for both InteliMacs (hey I bought one) and MacBooks.  Now I should just emphasise that last quarter there were lots of reports about the fact that Apple were having trouble keeping up with demand for iPods over Christmas, and that this may have been due to suppply issues etc, implicating that they would not meet iPod sales targets of 10M units (or so) for the quarter - they sold 14m!!!

I am pretty sure that despite possible scarcity of processors for the new intel Macs, they will have impressive unit sales figures this quarter, and apparently iPod sales have continued to be strong.   Add to this that it is Apple's 30th birthday come the 1st of April, you can bet they will be rolling out some new products then, and we should see a PPS runup into and after that big day. 

To me, I think that AAPL looks pretty attractive at these levels.  The risk yesterday was that the gap up would be filled and it would continue down further.  But support at he resistance level of the small ascending triangle breakout at the beginning of november looks to hav held, and today's action confirms that this should be a reversal.  I would look for a first target of the neckline of the H&S pattern formation arount $72 or the high of the 'W' at $73.  Beyond that, as you say it could just keep on going.  AAPL can produce enormous momentum, and if you are willing to hold for a few months, can produce a very substantial return.

Another interesting aside is that AAPL and GOOG's charts have almost exactly mirrored each other (reall quite amazing, maybe because the same intitutions trade both of these 2005 tech darlings?)  GOOG also produced a strong bullish reversal candle today, which bodes well for both stocks.

If you got into AAPL yesterday or today, good for you, it's gapping up further tonight.  I may look to take a position tomorrow.  I am sure that if you are willing to hold this for a few weeks to a few months, you will see the 80s again, and thee long term targets of 100+ are certainly not beyond reach.

I will post AAPL and GOOG's charts just for comparison

[Holygrale]

Anyone think this will reach the 200ma??

I'm thinking of playing the bounce with some loooong term money.

Any thoughts and or opinions appreciated.

[Terliso]

I'll leave a chart if someone interested

[dhiraj19]

I'll be toast if that happens: in @ 71 

[Holygrale]

SHort?   

Hope not.

It's approaching the 200ma, analyst has target of $103 (LOL)........and I'm long 2k at $61.10......................

[ScottishTrader]

Agreed.  I would expect to see a turn around at some point this week in anticipation of new product announcements at the end of this week or beginning of next, to coincide with Apple's 30th birthday.  Very likely is the new iBook (MacBook) - possible is a new video iPod, possibly with a new movie content deal on iTunes.

Friday gave us a doji (or very near), and while I wouldn't be surprised to see AAPL touch the 200MA as it is so close, it does appear to be a fairly good risk:reward at present, taking a close below the 200MA as a stop level.  Just to note though, that selling volume was pretty heavy last week on the back of the French ruling against Apple's anti-competitive DRM systems, and while the French ruling may have a relatively small impact on Apple's bottom line, I think the concern is that more European countries could follow suit, possibly including an investigation by the European competition commission, which would not be good.  So the selling might not be over just yet.

If AAPL shows positive signs of a rebound from this oversold level, I would be a buyer.  There is a falling wedge formation, which it may want to tag once more before rebounding.  It may be worth waiting for the breakout of the falling wedge before entering, as AAPL has made a number of weak bounces lately, and as I said, the selling may not be done yet.  Solid support looks to come in around $55.

[Terliso]

AAPL still a good short at least at 55    ...that's why the subject of my previous post was "AAPL still good for shorting but get ready to go LONG"

I did not say AAPL will go down at 30's, 40's etc..

[plocp]

stock is a paper,only!! come on, i have seen many once great company lost their value and went under 10 and never recover.

[usedcasting]

This looks like a fairly aggressive turn around hum.
ABOUT FACE, Lets hope!

uc.

Sorry about the two charts.

[usedcasting]

Keep on trucking!

[ScottishTrader]

nice move ain't it UC - I bought a little early on Monday, so didn't catch the bottom but am basically break-even now.  Amazing how it dipped below the 200SMA and then rebounded strong!!! Currently up over$3 from its low this morning!

Rock on AAPL - lets see what the rest of this week (and next) bring!

[usedcasting]

Yep Scottish I got back in the other day as well, at $60.48, I believe it was after reading your post (Appl). This will be my second try, hopefully second time lucky.

Thanks for the heads-up.

uc.

[Holygrale]

Now thats what I call a bounce..........but is it the start of the reversal uptrend campaign?

I have to say I jumped out above $62 after being down $6k for a few days......errrrrr.......LOL But got it all back...............

Will gladly jump in once the uptrend is confirmed, but this is looking solid I must say.

Go AAPL.