Apple's stock movement next week will depend on industry earnings reported (Intel on the 15th, IBM & Ebay on the 16th, Google on the 17th). If tech industry goes down, so does Apple. However, Intel could surprise and boost up the market. Also, Apple's Q2 earnings could be good, and investors could forgive the company's typically conservative estimates and bring the stock to 160 after earnings. If the Fed drops the funds rate another 50 bps, we could see another jump up at the end of the month. My guess is 165 or 170 if we're lucky. But that's a lot of ifs, and there are a lot of realistic comments in this thread, such as-- GE and UPS earnings scared people; AAPL could be at the top of a downward spiral, a la MOT; market failed 4th try to overcome resistance; CFO sold; advertisements galore; scarcity of iPhones means AAPL doesn't want to have excess inventory in a recession; what goes up on no news goes down on no news; tech's weak season; AAPL was only up due to 3G rumors-- all of these points make me want sell at a loss just to get out. I saw my money evaporate in a few days in January. I held calls that became worthless. Better safe than sorry. We'll see what next week brings.
Sources:
1. Apple Shares Sliding On Little NewsPosted to Barron blog.
Apple: Getting Ready For March Quarter EarningsOne final note: AT&T (T) reports earnings one day before Apple; you will want to pay attention to anything they say on iPhone unit sales.
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