November 26, 2013 | In: Technology
Will Apple (NASDAQ: AAPL) Close Up Year Over Year?
It seems that Apple has withered the pre-January effect that I predicted earlier; we are now nearing the end of November (still 3 trading days in this month other than today) and yet the stock is still resilient. I think the only reason why this is happening is because people have high hopes about the iPad 3, and because Icahn is pushing Apple to buy back 1/3 of its stock. In any case, the pre-January effect, where losing stocks throughout the year usually decline further, ends around December 15, which means that AAPL has still 13 trading days to substantially decline, but, again, it seems that this is no longer the case. In fact, I think right now the question is whether AAPL will close the year on a positive note.
Now, AAPL has started the year trading at $549, which means that, at the current price of $533, it still has $16 to catch up, or exactly 3% of its value. This means that Apple has a great chance of reaching the January 2nd, 2013 price and most likely beating it. If anything bad is going to happen to the stock it is going to happen between now and December 15th. After December 15th, the stock can only go up. Will it go up by 3%, I’m sure it will. In fact, I think it will close this year up 10% from last year.
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