Apple soars to an all-time high close of $154.30

Second record in two days, tenth of the year.

From AAPLInvestors.net’s Terrence Gregory, keeper of the stats.

My take: Good way to end the week. With a long weekend ahead of us, it could have gone badly.

6 Comments

Joseph Bland said:

Yep. Second record in two days AND shattering the $150/share Friday close resistance, which we’ve been battling since mid-July….. Now on to the $155/share resistance.

1

September 3, 2021
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- Joseph Bland said:
  
  One other important metric tumbled Friday: The trailing P/E ratio broke 30. This is an important metric because it helps track perceived value.Those new to Apple won’t recall the many, many years Apple was horribly, massively undervalued. But you may recall a great deal of talk about Apple being overvalued when its P/E hit 40. And yet, here we are, not much more than a year later, and Apple is at a P/E of 30 AND we’ve been hitting ATH after ATH.
  
  It doesn’t take a genius to figure out that Apple was NOT overvalued, even at a P/E of 40! In fact, I’d argue that Apple needs to get back to a trailng P/E of at least 35 just to maintain a P/E of 30 after next quarter’s earnings – and repeat the process in the December quarter, when the availability of product will signficantly surpass last year’s holiday availability.
  
  Thus, Apple fully deserves a P/E of 35 for at least the next 2 quarters – or a P/E of 40 right now. And a P/E of 40 requires a 33.333% increase in price over a P/E of 30.
  
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  September 4, 2021
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  - Joseph Bland said:
    
    In other words, Apple should be at (150×1.3333=) $200/share RIGHT NOW to be fairly valued.
    
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    September 4, 2021
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Fred Stein said:

Another cool feature – the lows keep getting higher. I know, it’s an odd way of looking at it.

I counted 14 times in the last six months alone, when a down spike (all V’s no U’s) was a “point of no return”, i.e. the next low was higher.

This confirms Joseph’s thesis that weaker hands have left the table.

2

September 3, 2021
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- Gregg Thurman said:
  
  Another cool feature – the lows keep getting higher. I know, it’s an odd way of looking at it.
  
  The ONLY thing I track is the intraday low. Everything else is higher.
  
  I predicted an intraday high of $155 on Wednesday, but missed it by 26 cents.
  
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  September 3, 2021
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Jerry Doyle said:

My take: “…. With a long weekend ahead of us, it could have gone badly.”

Yes, it could have gone badly with trepidation surrounding today’s August job numbers coming in short of expectation. I never worried as I personally see Apple as a stay-at-home AND a coming-out-play for investors. Whether the market anxiety is over a global growth slowdown in the economy due to a surge in the Delta variant or over a labor supply constraint in the economy matters little for Apple, a consumer staple company. Apple showed us last year how to navigate those troubled waters. Also, Apple’s unique, innovative and premium products are in demand. It is for this reason why I believe the job numbers today in the job’s report has more to do with a labor supply constraint where employers just can’t find the needed employees to fill job openings. I live in one of the poorest economic states and yet, there is no shortage of help wanted signs and job opening announcements, all at higher wages than I ever have seen paid in various businesses. So, I am in the camp that the economy is growing, but there isn’t a sufficient supply of workers to fill jobs, or possibly, applying to fill those jobs.

I am very optimistic going forward about the economy and about Apple’s continued stock price growth. Conservatively, I see us heading to $175 by the Q1 earnings call late January, 2022 and $200 by the Q4 earnings call late October, 2022. My bullish projections call for $175 by 12/31/2021 and $200 by 06/30/2022. Apple is firing on all cylinders.

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September 3, 2021
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