APPLE Dont get fooled by the short-term pull-back. $280 on trackExactly 3 months ago (May 02, see chart below), we called for a strong buy signal on Apple (AAPL) and it dully delivered as 2 days ago the stock completed three straight green months with a new All Time High (ATH):
The recent weekly pull-back shouldn't allow you to diverge from the bigger picture and on this analysis we look at it from a 1M time-frame perspective. As you can see, as long as the 1M MA50 (blue trend-line) holds, Apple will continue to be on a 15-year uptrend, which shows very distinct Phases.
Right now we are on the Channel Up that followed the 2022 Inflation Crisis, which was a similar correction to 2015 - 2016 (China's slowdown). The Channel Up that followed peaked at +161% before the next correction towards the 1M MA50. Even the 2013 - 2014 rise was still +145%.
As a result, we don't believe the current Channel Up to be over either, expecting a peak closer to 300. Our Target is marginally below it at $280.00.
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