Lets look at Apple ( NASDAQ:AAPL ) here. Ever since Apple ( NASDAQ:AAPL ) broke out above the 200-day moving average, it cleared 100 and then it stayed there, this is when everybody starts to get all lathered up about this thing again. It was fine for a trade, but you see a lot of people focused on, “Hey, is this the time to buy Apple, and this and that?” Whatever. Maybe it is time the Apple watch or the new phone, if you don’t want to have a cord hanging from it all the time.
But stop and think just for a minute, this is a 607 BILLION dollar market cap, you can see that right here. It is HUGE. Look at though, the earnings growth rate and sales, or revenue growth rate per quarter, 38, 7, -18, -23. That’s EARNINGS, and that can be for any number of reasons, but HERE sales grow 22 versus the same quarter last year into September. Growth 2 percent versus the same quarter last year. Oh, shrunk 13 percent. Oh, 15 percent.
So the bottom line is, I get this, the chart is moving higher, and I absolutely would not be shorting Apple ( NASDAQ:AAPL ) because there are a lot ‘Appleonians’ there. I would rather short Tesla ( NASDAQ:TSLA ) than Apple ( NASDAQ:AAPL ), and I wouldn’t short Tesla ( NASDAQ:TSLA ) either. The true believers are enough to make you vomit, but you also have to respect them at the same time. So with Apple ( NASDAQ:AAPL ), is this the time to buy it? I would say no. If you insist on buying Apple ( NASDAQ:AAPL ) wait for it to pullback a bit. My bet is, you will be able to, you get it closer to the 50-day moving average.
For my money, I would be buying another stock. Nothing against Apple ( NASDAQ:AAPL ), shoot I am probably going to buy the watch, which is a big deal for me. So nothing against the stock, it is likely to go higher. What I am telling you is, and it is not because of the hardware frankly, the whole music thing, I think that is just going to catch on (Jay Z eat your heart out), but I am just talking about from a trend standpoint, yes, you can buy Apple ( NASDAQ:AAPL ). Yes, it is likely to move higher. But in the meantime you could be long OTHER stocks that are actually going to make you more money because they are close to 52-week highs. So that is my take on Apple ( NASDAQ:AAPL ).