Back on October 7th I posted the following article, Can The Markets Rally Without Apple and proposed the concept that it was possible for the markets to rally without the support and leadership of Apple. It took the month of October to decouple, but it looks as if now the market doesn’t really need Apple.

I personally think that if the markets firm up here and head higher Apple will under-perform and consolidate in a sideways fashion and then will visit the low 400′s later on in the spring.

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3 Responses to “Markets Don’t Need Apple Anymore”

  1. JD Says:

    Good observation. I don’t think Apple gives in without a fight – with new product announcements, this might not happen. With markets in bullish mode, should be flat to slightly higher. Near 450, probably not I think.

    If it does, I think less than 480/450, we have to start thinking long term long positions.

    I dont have any position in Apple.

  2. jeff pierce Says:

    My target is right around $390-410. I didn’t include that in the post because I really don’t want to advertise that’s where I want to buy it, but you are a long term reader and wanted to share my thoughts.

  3. JD Says:

    I appreciate it, Jeff. With weakness of this nature in market itself, if its a poor earnings number, you might get it at that level in Feb 2013.

    Does seem to me, people losing interesting in trading Apple and also more bearish views. Could potentially see a fake spike.

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