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November 20th

Apple Stock Hitting Support Levels

posted in Apple (AAPL) |

Apple stock faltered earlier this month when the market slid south and speculation over AAPL’s P/E came under fire. Having fallen all the way down below $160 per share this month, Apple has recovered modestly and finished out today at $168.85 per share. As with much of the market, Apple should continue be under bearish pressure until the fog is lifted. Investors are looking to see major gains in earnings to rationalize the purchase of AAPL at such an enormous P/E. After today’s close, Apple trades at 42.9x earnings.

Apple Support Chart

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This entry was posted on Tuesday, November 20th, 2007 at 5:40 pm and is filed under Apple (AAPL). You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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MarketMatador.com contains its own opinions, and none of the information contained herein constitutes a recommendation by MarketMatador.com that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You further understand that MarketMatador.com will not advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the information contained at MarketMatador.com may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Disclosure: Long Apple Inc. (AAPL)

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