NEW YORK ( TheStreet) -- Apple ( AAPL) headlines Tuesday's earnings reports under intense scrutiny over whether or not the company can re-energize Wall Street and investors opinions that Apple products remain relevant in the changing world of technologies.After the close last Thursday we learned what happens when investors are disappointed when major technology companies miss earnings expectations. Google ( GOOG) ($896.60) slumped to $860.62 afterhours on Thursday, but stayed above that level on Friday with a day's low at $875.61. Following this volatility Google maintained its hold rating and is 29.7% overvalued. The July 15 all time high at $928.00 turned out to be a test of the ValuEngine one-year price target at $927.56. Helping the stock stabilize on Friday were my semiannual pivots at $892.48 and $880.49. My quarterly and monthly pivots at $915.63 and $922.67 are now risky levels. Microsoft ( MSFT) ($31.40) was hit even harder than Google trading as low as $31.02 on Friday. Weakness was enough for ValuEngine to upgrade the stock to buy from hold. Given this assessment the stock should stay above its 200-day simple moving average at $29.89. My annual value levels are $28.57 and $27.92 with a monthly pivot at $32.41 and quarterly and semiannual risky levels at $33.52 and $33.95. Assuming that Apple ( AAPL) ($424.95) will have significant up or down volatility afterhours Tuesday, here's my buy-and-trade profile. Apple still has a buy rating and is 7.8% undervalued. My weekly value level is $404.95 with my annual pivot at $421.05 and annual risky level at $510.64. If Apple shares get sliced below $404.95 new 2013 lows are likely as this month's value level is $325.25. On a positive reaction my target is $510.64 with semiannual risky levels at $620.84 and $621.46. Stocks continue to trade under a ValuEngine valuation warning with 76.0% of all stocks overvalued, 43.0% are overvalued by 20% or more. Fifteen of 16 sectors are overvalued, 14 by double-digit percentages.