NEW YORK ( TheStreet) -- Unstoppable Apple (AAPL) continues to move higher, once again holding firm above the closely watched $600 psychological price. What truly sets Apple apart from the overall market as measured by the S&P 500 Spyder ETF (SPY) is the strong sales in Asia.
Despite the overall market moving lower, or at best flat into the election and likely 2013, I expect Apple to move to new all-time highs. Apple is such a large part of Nasdaq's PowerShares QQQ Trust Series (QQQ), that a decoupling, at least in part for a few months, is a real possibility.
Why does Apple get a pass on the next six months? Apple doesn't get a pass for North America any more than anyone else. Apple has the advantage of a highly desirable brand that is increasing sales in Asia, and is already trading at a massive discount relative to its earnings growth and financial position.
It's the Asian sales that will continue to pump earnings into Apple, driving the stock higher. For another look at Apple,
Real Money's Tim Melvin wrote an article that includes it:
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