SHORT NOTE ON APPLE

Since my inbox is filled with questions on Apple, I will give you my clear, concise and succinct thoughts. I DON’T KNOW. Keep in mind, their new products are not for sale just yet. More now than ever, Apple will have to show that their products are still clamored for. My best uneducated guess is that there has been enough pent-up demand for a new Apple phone that the numbers will be strong. As far as a watch, I am not sure I get it. In fact, to use the watch, you need the phone.

As far as the stock price, Apple’s stock had a breakaway gap in April, and since, has not closed below the all-important 50 day moving average at about $97. A break below would be the first warning shot. I am wondering though if all the “news” is already in the stock. Time will tell. Keep in mind, Apple has a strong weighting, especially in the NASDAQ and NDX…and if you watched the market yesterday, it should be evident that it still moves the market.