AAPL - earnings better than feared

Q2 earnings for Apple (AAPL) were a little better than many had feared, and it has resulted in a rather powerful rebound, settling +6.5% @ $102.99, the best close since late April. Any price action >105 should confirm the 120s by late 2016/early 2017... with eventual new historic highs (>131).


AAPL, daily

AAPL, monthly

Summary

Just consider that AAPL saw Q2 EPS of $1.42, on rev' of $42.4bn

That is roughly $6 a year... and on a stock price of $100, that makes for a PE in the 16s.

Unquestionably, AAPL is a superior company relative to the main market, and thus 'should' be trading considerably above the average market valuation.
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Technically, the break back above the $100 threshold today was very important... along with a close above the 200dma (102s).

Next resistance is declining trend, currently in the $105s.

With a new historic high >sp'2134, AAPL looks set to follow in 2017