On Jan. 15, I wrote Mojo Shifting for Apple, Amazon and Google where I profiled these names pre-earnings. Since then, Apple traded to a new 52-week low at $435.00 on Jan. 25, after beating earnings expectations by 37 cents a share reporting $13.81 EPS.
Also on Jan. 25, Amazon.com set a new all-time at $284.72. On Jan. 29 the company missed earnings expectations by 9 cents a share on 21 cents EPS. Amazon traded as high as $288.00 in after-hours trading on Jan. 29, but the high on Jan. 30 was just $284.20.
Google beat earnings expectations by 41 cents a share reporting $9.02 EPS after the close on Jan. 22. The stock closed that day at $702.87 and opened at $735.99 on Jan. 23 and continued to the upside with a new all-time high at $776.60 set on Feb. 1. Dow Industrials closed above 14,000 Friday with the yield on the U.S. Treasury 30-year bond approaching 3.25%. As a result, 65% of all stocks were overvalued. Because of this fundamental downgrade, www.ValuEngine.com issued a ValuEngine Valuation Warning. Bobbing for Apple Shares: Apple ($442.32) is bucking the market trend with a buy rating with the stock 23.8% undervalued with fair value at $580.79. Apple has a 12 months forward price-to-earnings ratio of just 9.00. Apple set an all time high at $705.07 on Sept. 21 when ValuEngine had $700.00 as its one-year price target. At the 52-week low of $435.00 set on Jan. 25, the stock was down 38.3% from top to bottom.
Apple is extremely oversold with its 12x3x3 weekly slow stochastic reading is 11.09 on a scale of 00.00 to 100.00 where a reading under 20.00 is oversold. My annual value level is $421.05 with a weekly pivot at $451.89, a semiannual pivot at $470.21 and annual risky level at $510.64.
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