I think, given the recent 25% move, we're into a new period of consolidation for Apple. This most recent move has been driven more than anything by the stock split news. You can say the market isn't being rational, but sometimes these things happen. People wanted to own this stock ahead of the split date, for whatever reason.
If history is a guide, this quick ascent of Apple won't continue. We've hit a plateau here. It's time to pause and wait for the next wave of news that will move the stock, either up or down. I think that's going to be sales info on the actual iPhones and new iWatches.
If I'm right and both are hungrily bought up by the Apple army of fans, I see Apple moving well beyond its all-time highs by the end of the year. But until then, this stock snoozes.
At the time of publication, Jackson had no positions in stocks mentioned.Biotech Stock Mailbag: Zafgen, Bluebird, Mannkind Is American Apparel Fit for a Buyer? Follow @ericjackson This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.