Apple Inc

Originally published in Charting the Market 7/11/07

The shares of Apple Inc. (AAPL-NASDAQ) printed another new all-time high yesterday, driven by speculation that a cheaper, nano-like version version of the iPhone is in the works. The stock continues to confound pundits who called for investors to sell into the iPhone release. Apple’s stock has tacked over $40+ billion in market capitalization since the iPhone was officially announced at MacWorld in January, roughly equivalent to Research in Motion’s current market cap. But it took RIM’s stock 10 years to hit the $40 billion mark. If Apple’s P/E can approach the highs we saw in 2005...well you do the math. Is a $200 billion market capitalization just a matter of time?

Consolidating this move for a few months seems more reasonable to me, but the cult of Steve might not be satisfied with mere backing and filling. The Pod People seem to want more. Take a peek and see how far the stock is trading above its 200 day moving average. And those overbought stochastics...ah never mind.
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