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AAPL At Risk Of Erasing Earnings Pop



May 03, 2012 – Comments (0) | RELATED TICKERS: AAPL

Apple Inc. (NASDAQ:AAPL) is at major risk of erasing the earnings pop. The stock shot up on quarterly earnings results, jumping from $560.28 to $618.00. Since that initial pop on earnings Apple has fallen almost every day.

Today, Apple is resting on the daily 50 moving average at $583.49, -2.49 (-0.42%). A close below this level would dictate a continued down move to $560.28 and possibly lower. While analysts were cheering the earnings results and upgrading the the stock north of $900 per share, smart investors were staying away due to an over hyped story and extended chart. Staying away from Apple above $600 was the right move. Here at InTheMoneyStocks we advised our members to stay away as the hype was just too large. This proved to be the correct trade.

Gareth Soloway

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