Santa Claus Rally Eyed for Online Leaders Apple, Amazon and Google
Forrester Research projects a 12% increase in online sales this holiday season, and Amazon.com should be a major beneficiary as up to 25% of smartphone and tablet owners buy on their mobile devices. Sales of their Kindle products should be on "Fire" and their online Black Friday deals feature video games for Nintendo, PlayStation and Xbox 360 platforms.
Apple (AAPL) ($560.91) has a buy rating according to ValuEngine, and was also profiled Oct. 23 with Amazon. Apple set its all-time high of $705.07 on Sept. 21. Apple also announced quarterly results Oct. 25 and reported a slight EPS miss of just 1.4%.
I also updated this profile Oct. 30 but on Nov. 2 Apple failed to hold its 200-day SMA then at $590.33. Last week I had a weekly pivot at $538.56, which provided a level at which to buy on Thursday.
Consider booking profits on strength to the five-week MMA at $586.46. Away from these moving averages I show weekly and semiannual value level at $487.12 and $481.73 with my quarterly risky level at $674.21.
Even Apple announced worldwide Black Friday sales featuring iPads, Ipods and Mac gifts. Last year their deals included $101 off on iMac, MacBook Pro and MacBook Air systems, but all you know about this year's Internet-based door-busters are on teaser pages at their online stores. At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.Select the service that is right for you!
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