This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mojo Wave Includes Walmart, Others

NEW YORK ( TheStreet) -- Amazon (AMZN - Get Report), Apple (AAPL - Get Report) and Google (GOOG - Get Report) have been the high-flying mojo stocks of 2012 reaching new all-time highs recently. Homebuilders have had the biggest gains since last October and year to date, but these stocks have not even recovered half their losses from their mid-2005 highs.

Despite consumer confidence readings well below levels considered normal, many retailers have reached all-time highs or multi-year highs in 2012. Below, I update profiles for these stocks applying new monthly and quarterly value levels, pivots and risky levels.

On Sept. 12, the day the Federal Reserve announced QE3, I wrote Amazon, Apple and Google Now Overvalued. Amazon set a new all-time high two days later. Apple did so on Sept. 21. Google waited until last Friday, Oct. 5.

My concern about overvalued and technically overbought stocks this earnings season is that the downside risk is significant given a hiccup in earnings or lowered guidance. For the homebuilders, I profiled the best performer, but most of the stocks in this industry have similar profiles. In the retail-related stocks, I profiled three Dow components, but there are many stocks with similar profiles.

Amazon (AMZN - Get Report) ($259.06 vs. $255.67 on Sept. 11) is still buy rated according to ValuEngine with fair value at $181.04, which makes the stock 43.1% overvalued. The ValuEngine one-year price target is $273.62. Amazon is up 15.3% over the past 12 months with a price-to-earnings ratio at a crazy level at 150.8 times 12-month forward analysts' earnings estimates.

The stock set a new all-time high at $264.11 on Sept. 14. My semiannual value level remains $236.23 with new monthly and quarterly pivots at $260.13 and $263.71, which makes it tough to call for yet another new high. This week's risky level is $274.90.

Apple (AAPL - Get Report) ($638.17 vs. $660.59 on Sept. 11) is still buy rated according to ValuEngine with fair value at $617.36, which makes the stock 3.4% overvalued. The ValuEngine one-year price target is $675.61. Apple is up 73.3% over the past 12 months and has a reasonable 12.0 P/E ratio.

After setting an all-time high at $705.07 on Sept. 21, the stock ended last week with a close below its 50-day simple moving average at $657.78 with its 200-day SMA at $572.82. The last test of its 200-day was on Nov. 25, 2011 when that average was $363.90. Apple ended September below my new quarterly pivot is $674.2
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
AMZN $659.59 0.00%
GOOG $693.01 0.00%
PHM $18.39 0.00%
WMT $66.87 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs