AAPL - facing a very demanding market

Despite earnings coming in fine, the market was not pleased with Apple (AAPL), as guidance was not all that the market had been expecting. AAPL settled -4.2% @ $125.22 (intra low $121.99). Key support is around 121/20.. a failure of that to hold, will open up the 114/112 zone.


AAPL, daily

Summary

APPL unquestionably continues to be a money making machine, yet it is clear, even a relatively minor down grade on future profit/revenue is enough to cause some real upset.

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Broadly, AAPL remains bizarrely valued to the main market. Regardless of any sustained weakness into the autumn, AAPL looks set to break new highs into next year.

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