Apple Inc (AAPL): Holiday Bounce to $700 Coming?

Apple Inc (NASDAQ:AAPL) stock reached its all-time peak of $705 a share in mid-September, just before the release of the iPhone 5. But ever since the launch, and even after the company released the new iOS 6, iPad 4 and new iPad Mini, the stock continued to fall and has dropped below $575 a share very recently – a drop of nearly 20 percent in about six weeks. But as the holiday shopping season starts to ramp up and Apple Inc (NASDAQ:AAPL) is recording decent sales numbers in the run-up, is the stock ready for a holiday rally? Should investors like billionaire fund manager Dan Loeb of Third Point be strengthening their positions and preparing for a return to $700?

In a word … maybe, but not for long. (OK, so that’s five words.)

Should this Concern Apple Inc. (AAPL) and Google Inc (GOOG)?

One analyst, Rich Ross, predicted this fall in the Apple Inc (NASDAQ:AAPL) stock, calling that the price would plummet to the $574 range. He told a magazine Web site that he had decent reason to believe it would happen. “Apple is at a great proving ground,” Ross said, “near its July lows and a support trend line that goes all the way back to June 4.” While he does see the stock rallying during the holiday season, he says the stock might get near the all-time high before receding right around the time of the January quarterly earnings release.

While he sees a run coming, Ross isn’t exactly on board with a short buy run on Apple Inc (NADAQ:AAPL). However, he also doesn’t see much more decline in the offing – like it might be bottoming out. “It’s not the worst chart I’ve ever seen; it’s not one you run around like Chicken Little yelling ‘the sky is falling,’” Ross said.

The bottom line, Ross said, is to stay disciplined and cautious. He sees Apple Inc (NASDAQ:AAPL) making a run, but he expresses worry about the overall fundamentals of the company, especially in the wake of the executive shakeup where top iOS architect Scott Forstall and Apple retail chief John Browett were relieved of their duties by CEO Tim Cook. What do you think about Apple stock now? Do you see a buy opportunity, or do you agree with Ross’ intimation that the fundamentals are questionable? Leave us your comments and let’s see who is smarter than Mr. Ross!

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!