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Apple: Buy It Today

ByJay Goldman
Published 10/13/2014, 04:23 AM
Updated 07/09/2023, 06:31 AM

All signs are pointing to a surge in the value of Apple Inc (NASDAQ:AAPL) shares, that will bring them to an all time high by the end of the month.
Here are a few points, that I think solidify this notion-

1. Sales of the new iphone6 have been phenomonal, with over 10 million units sold during the first weekend of availability, compared with only 9 million of the iphone5s in a similar period last year.
2. The iphone6 is only being released this week, October 17th, in arguably Apple's most important market- China.
The three main carriers in China have already reported pre-orders in excess of 3 million units during the first day of availability.
China is a relatively untapped market with tremendous sales potential, which could give a great boost to Apple's bottom line.
3. Recent performance- during last week, when the entire US markets took one of the worse beatings of the year, Apple actually closed the week with a gain, as seen in this chart-
Apple vs. the Market

4. Apple's earning reports are due out Oct. 20th, based on recent expectations, they will surpass WallStreets expectations.

5. Time of year- we are entering the Holiday season, when consumer spending is always higher, which bodes well for a retail company as Apple.

I am setting my target rate for Apple at over $110 by the end of the month, and most likely over $120 by end of year

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