Apple Stalls At $600, Hype Builds To Epic Level
Apple Inc. (NASDAQ:AAPL) opened higher today, hitting $600.01. No sooner did it tag the master $600 level, AAPL pulled back. The stock has jumped almost 50% since the start of the year. This has added 250 billion in market cap, making AAPL the biggest public company in the world. While analysts and the media continue to upgrade the stock to $700 price targets, this Chief Market Strategist can smell a skunk a mile away. While Apple is a great company, the hype has reached a euphoric level. I expect a 10% pull back in the next month minimally.