AAPL - closing the year with moderate gains

Whilst the main market saw very strong gains build across the year, Apple (AAPL) saw very significant weakness, slipping from $519 to the June low of $384. AAPL looks set to close in the mid $500s, which makes for a latter half recovery of around 45%


AAPL, daily

AAPL, monthly

Summary

Regardless of where AAPL closes the year tomorrow, it has very much been a V shaped price structure.

APPL sure was the most unloved stock of the early summer, but since that brief break into the $300s, AAPL has consistently battled higher.
-

Relative to the main market, AAPL remains bizarrely undervalued.

For 2014, the big question is whether the Sept' 2012 high of $684 will be surpassed. That will be extremely difficult, not least if the main market rolls over in late spring/early summer.