I think we might see some consoldiation in the $150 to $155 area before the next leg of the recovery kicks in - assuming all of the bad news is out in the open and in the price?
The shares seem to have turned - immediately after the slump when the profits warning was announced - which prompts me to think whether some people thought things would be worse. If this is the end of the bad news then maybe we are in a buy on the dips scenario?
This is one for the brave at the moment. Investors are giving the impression they want to believe this is the bottom but the recovery does seem a little fragile to say the least. The days of managing newsflow seem to be long gone for Apple - will it ever return to the heady days when the price was around $220?
The share price seems to be holding at the moment, just above an important support level. Is the company starting to play down expectations so that they can maybe surprise on the upside? Little snippets in the press suggest this might be a strategy to steady the ship?
It is starting to look like this is a case of managing news flow - prompting analysts to aim low and the company then delivers on the upside. Classic Apple of years gone by! The gradual recovery does indicate there is some strength behind this move.
Apple is prettty much back to where it started 12 months ago but I for one cannot yet see a clear strategy for the longer term. Where is the growth going to come from?
The shares seem to have found a new level for now - awaiting guidance from the company. I suspect they will move higher but I am not 100% convinced - not yet.
Apple shares seem to be in a very similar place to Amazon share just now - consolidating ahead of what many believe will be a move higher in the short term. Is the worst now over for both of these companies?
This must be the least volatile I have ever seen the Apple share price! Total lack of direction at the moment.