Apple Looks Like a Long-Term Winner

by Sam Collins | August 7, 2013 4:15 am

On July 9 at under $415, we said[1],

“Apple is expected to earn $41.04 in fiscal year (FY) 2013, ending in September, and the consensus earnings estimate for FY 2014 is $43.59. The mean price target has been increased to $538 from $500, and those willing to take a longer-term perspective may buy Apple with a stop-loss order at $390, below the April low.”

Since then Apple stock has rallied close to its 200-day moving average at $474, where traders may be wise to nail down a profit. However, the stock appears capable of completing a long-term reversal from a saucer formation that could prove very rewarding for patient Apple investors.

08072013 aapl take trade
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