First, the good news. Amazing quarterly earnings and future growth prospects, the stock is not excessively overpriced (when compared to some other high flyers), Carl Icahn thinks its a no-brainer $200 stock and Apple bulls are laughing at the shorts…. Apple doubters need a do over
And the bad news? Despite all of the above, Apple’s stock price is where it was 2 months ago. Thus far. Unable to break above $120 and suggesting that it might soon close its earnings gap and continue lower. Possibly low enough to re-test $75.
Why is this so significant?
Well, if Apple is breaks down after its blockbuster earnings report, it simply spells doom for the overall market. If strength can go higher, the probability of us already being in a bear market surges exponentially. That’s why.
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Why Apple’s Earnings Report Was Super Bearish – Daily Stock Analysis Google