3/14/2014

I called the bottom in Apple on CNN and fortune.com. Below is the link to my article: An Apple Bear Calls The Bottom.

So I called the bottom, now I am telling you Apple is going to $700.

Technically you can see from the chart below that Apple is ready to break out of a bullish inverse head and shoulders pattern, if it closes above $545, this pattern projects a price target of $700 for Apple.

Furthermore every stock needs a catalyst to move it. I believe Apple has two catalysts that will move its stock price up. First according to trim tabs research Value Based Mutual Funds have been purchasing Apple stock at a record pace, this has not always been the case as many value managers never purchased Apple during its big move over the last couple of years.

Secondly Apple will come out with a smart watch, many analysts think this will be released around September of 2014. This will be a game changer as it will be the first product in years that will actually get people excited about Apple the company again. More importantly it will increase Apple’s growth prospects which will cause sell side analysts to raise their earnings/revenue estimates as well as their price targets.