Taylor Dart

Apple: Downtrend Broken, Next Stop $140

During a year that has been a rollercoaster ride for the S&P-500 (NYSEARCA:SPY), Apple (NASDAQ:AAPL) has fared no different. The stock started the year by plummeting over 12% in a month, and has spent the majority of the year stuck in a range between $90.00 and $110.00. Despite technology (NYSEARCA:XLK) being the 2nd strongest sector to date, Apple for the most part has not participated. Fortunately for investors in Apple, this lackluster performance could be about to change. The stock has recently made new 52-week highs, and continues to hold above its highs of the year. I believe the tide is turning for Apple and those holding shares will be rewarded in a big way over the coming year. The stock still has lots of room to move higher on a fundamental basis, as it trades at a P/E ratio which is below its 5-year average.

To read more, you’re welcome to follow this link to the Seeking Alpha article written by Mr. Dart