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Amazon, Google Wake Up To Downgrades

Apple (AAPL - Get Report) ($571.50 vs. $560.91 on Nov. 21) rallied 1.9% between Tuesday's close and the close on Black Friday. Apple maintained its buy rating according to ValuEngine with a projected 12-month gain of 5.07%. Apple is thus on the cusp of a potential downgrade to hold. Apple's fair value is $621.17 so the stock is 8% undervalued. Apple's 12-month forward P/E from Wall Street analysts is favorable at 10.85.

The daily chart for Apple is positive with Friday's close above the 21-day SMA at $569.45. The 200-day SMA at $639.78 held on Nov. 16. This week's value level is $508.60 with my semiannual value level at $481.73, and the 200-day SMA at $597.82.

Chart Courtesy of Thomson/Reuters

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
AMZN $375.56 0.00%
GOOG $524.05 0.00%
FB $80.78 0.00%
TSLA $206.79 0.00%

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