A look at Apple Inc (AAPL) — How High Can It Go?Apple Inc ($AAPL) averages are at $525.45 (21 day SMA), $509.33 (50 day SMA), $456.91 (200 day SMA). Over the past 52 weeks AAPL has traded from a low of $385.10 to a high of $594.59. AAPL was last at $562.28 on a volume of 11,323,300. Average daily volume has been at 11,208,500.
This daily chart of Apple (AAPL) shows a stock that’s breaking out of a bearish wedge pattern (where highs and lows are higher…but the trendlines are converging). Typically, such patterns will lead to a breakdown. Here, AAPL is breaking out to the upside. This stock is now enjoying strong upside momentum as investors who were lulled to sleep by a rangebound stock are now chasing it.
A reasonable short-term price target on this stock would be $600.
Apple Inc designs, manufactures, and markets personal computers, mobile communication devices, media devices personal computers, and portable digital music players, and sells various related software, services, peripherals and networking solutions.