Taking a Bite Out of Apple
Originally published on Wednesday, Oct. 31 at 10:41 a.m. EDT.
- Many of my recent concerns have been discounted in the $110-per-share schmeissing in Apple shares.
- Month-end is probably exaggerating the price fall, as some investors/traders want the stock off of their books.
- Controversy surrounding the recently announced management changes have likely hastened and accelerated the share price decline. These concerns are probably overblown.
- Product concerns are also likely overblown -- though the competitive landscape is changing.
- The technicals! As I have previously written, I believe in charts, especially at important support and resistance lines. Apple's 200-day moving average is $588.70, and I suspect it will hold for now.
Parsing the Data
Originally published on Friday, Nov. 2 at 12:12 p.m. EDT.