From March through September of 2012, Apple Inc. saw the best market in its previous 10 years history, with the mid of September at its peak. Although, the company’s shares went down after September last year but these are still greater than the value of shares on January 2012 and before.
If we look at the present month’s situation, Apple’s share went down a lot for one day on 15th of January after the reports of “weaker-than-expected-demands” on January 14th but the shares rose again on January 16th.
Tom DeMark, Market Studies founder and CEO, noted on “Fast Money“, late on Tuesday, January 15th, “We wouldn’t be surprised tomorrow [Wednesday] to see Apple gap up above $494, $495 despite trading lower in the aftermarket today, and it will just move forward from there and be strong for the next couple of weeks and reach $600.”
DeMark is positive about the shares of the company, “If the market were in decline further from here, we could see another $100, but we don’t see that happening,” he said. “The bottom is in today or tomorrow.”
Colin Gillis, technology analyst and director at BGC Financial, noted,
“Apple’s high margins
Leave a door for cheap products
Which are good enough”
Gillis reduced the price target to $575 from $600 for the record.
So, it would be important news for the investors to look at the company’s shares.