Despite the continued climb in the Nasdaq, Apple (AAPL) has been weak since early December, settling lower today, -0.9% @ $517. Critical dual support is at the recent low, along with the 200 day MA, in the upper $480s.
*first, keep in mind the Nasdaq, monthly
It would seem we'll close higher by a very significant 4% or so this month.
Relative to the main market, AAPL, with a forward/trailing PE of just 11/12 is one of those stocks that
see key stats @ yahoo! finance
From a pure price perspective, the equity bulls need to hold the $480s...where we have multiple key supports. Any monthly close <$480..and the door is wide open to much lower levels this spring/summer.
As ever, AAPL remains a key stock to watch!