NEW YORK ( TheStreet) -- When you compare Apple ( AAPL) and Google ( GOOG) you must consider both fundamental and technical analysis. When Apple traded below $400 in April and in June, the stock became the cheapest value stock in the ValuEngine universe and had a buy rating. Google on the other hand has been overvalued all year so far.The ploys of billionaire Carl Icahn fueled strength in Apple shares as the stock returned to the $500 threshold for the first time since Jan. 23. According to Thomson/First Call 18 analysts have a strong buy rating and 22 have a buy rating. There are 11 hold ratings, and one each has under-perform and sell ratings. At ValuEngine Apple is rated hold and is overvalued by 13.3% with a one-year price target at $503.84, which has been tested this week. The key for the stock is now technical momentum. The stock is overbought on its daily chart and has a positive weekly chart profile after the stock held its 200-week simple moving average at $286.51 at the end of June. Apple has mojo status as long as weekly closes are above its five-week modified moving average at $461.89. My proprietary analytics correctly projected that Apple would return to my annual pivot at $510.64 where buy-and-trade investors should book some profits. To gain additional mojo the stock must have a close today above $510.64 as such indicates upside to my semiannual risky level at $620.84.
Google set an all-time high at $928.00 on July 15 then some on Wall Street raised their price target to $1,000. According to Thomson/First Call the highest price target today is $1,175. 11 analysts have a strong buy rating and 21 have a buy rating. There are 12 hold ratings, no under-perform or sell ratings. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.