This is from Business Insider which if not particularly right is usually very interesting. I personally disagree . I do think Apple will spend some time basing before it takes off again and if I had to say where the basing would occur it would be around the just below the 200 day moving average at 525-575 but then again it could base around a nice round number like 600.
Apple’s not going down in any meaningful way until someone comes up with better product(s) and so far everyone is copying them and not innovating. Until there’s a real innovator, forget it. Apple will always be one step ahead with a moat getting bigger and bigger.
We just got back from seeing investing legend Jeff Gundlach speak at the New York Yacht Club.
You can see the full presentation he delivered here.
One of the controversial calls he’s been making: short Apple.
Basically, he acknowledges that the company is awesome, and has moderate valuation, but it’s just so over-owned and overloved and big that it can’t possibly keep growing. He said that he’s hearing drug-addled hair dressers try to get into Apple, which is a sure sign that it’s got to be almost over.
And as for charts, he ran this one, comparing Apple now to when Google was at its peak.
And if it looks familiar, then that’s because Doug Kass has highlighted it as well.
Read more: http://www.businessinsider.com/chart-of-the-day-gunldlach-on-apple-vs-google-2012-4?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Money%20Game%20Chart%20Of%20The%20Day&utm_campaign=Moneygame_COTD_042612#ixzz1tBaB90DN