How To Trade Fundamentally Broken Apple Stock

twocents@thestreet.com (Richard Saintvilus), The Street
Mon, 05/02/2016 - 6:44am

Where's Apple stock going? That's the critical question now that we've turned the calendar page and wonder whether to "sell in may and go away" or hang on for the long term. My guess is Apple stock is likely to break below its critical support line of $92 per share on its way to $85 and possibly lower. On a fundamental basis, Apple's is the cheapest equity trading on the market today, given the company's $233 billion in cash, pricing the shares at around seven times forward estimates (excluding cash), or 10 points below the S&P 500 .

Topics: sell in may apple's is s&p if apple but apple thestreet's jim cramer carl icahn eps aap research director jack mohr jim cramer's action alerts charitable trust portfolio learn let's look tradingview red shares cupertino-based based april june chinese september consumer durables apple apple's appl apple cramer the action alerts aapl click trade broken earnings market support time line iphone long near-term price critical expected monday arrow sales launch cash chart times estimates friday points today term company profit holding revenue reaching breaking high

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How To Trade Fundamentally Broken Apple Stock

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