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Apple (AAPL) stock hit $480 on Friday but then sold off into the mid $460's into the close. Now that the iPhone 5s and iPhone 5c launch is behind us, keep an eye out for pre order estimates on Monday. Wall St. will view any number as bad and the lack of pre order numbers would be horrible. Apple (AAPL) will now have support at $447 and $440 with resistance at $480. Apple (AAPL) is no longer a strong buy until a retest of the $430's. Continue to sell these big rallies and buy back lower.
I believe Apple (AAPL) will hit $600 before $400 but the recent bearish iPhone news can easily reverse this call. Now that the iPhone 5s release is history, what is the next catalyst? I don't see one for awhile.
Also see - Top Stocks 2014 - Top Stock Gainers 2013
