Carter Worth: Bullish on Apple? It's the world turned upside down.

From "Apple maybe is a defensive play here, says Worth's Carter Worth" which aired Monday on CNBC:

Carter Worth, Worth Charting CEO, joins 'Squawk Box' to discuss what Worth is seeing for the S&P charts, if there's more lasting damage if the S&P touches the June lows, and Worth's investing take on Apple.

Bartley Yee's take: This is the first time Carter Worth has made some cogent, clear and fact based sense analysis of the market and of AAPL/Apple, and perhaps the first time in recent memory he’s actually referred primarily to Apple’s business fundamentals instead of chart behavior.

17 Comments

  1. Daniel Epstein said:
    When I heard this I thought wait CNBC has something nice and logical to say about Apple in this market. You could knock me over with a feather. Has Hell frozen over? Well Carter Worth and his charts have pointed us in many different directions when it comes to Apple over time. Buy and hold is not usually in his vocabulary. Talking about Apple is still a draw for the audience as it is the largest market cap stock in the market. Hard to come up with a new idea about its stock price direction every day. Let’s start counting how many days till the reverse opinion appears. Sort of like those signs in factories saying they haven’t had an accident in x number of days. Do you think we can even go a week?

    1
    September 26, 2022
  2. Bob Goldstein said:
    Same for me. I understand that buybacks are good for long term investors but as I am now 70 I do not consider myself a long term investor. I have already held my shares since 2000.
    Rather than hope the shares will continue to rise, I prefer to have the cash in my pocket to enjoy a higher standard of living without having to sell shares.
    I definitely am not part of the group that has toasts when the share price drops so that Apple can buy back cheaper shares

    8
    September 26, 2022
  3. Gregg Thurman said:
    I liked his use of year ago prints to define bottoms. Every list of Apple performance includes 52 Week lows, implying a bottom. That doesn’t mean AAPL will revisit that low, just that it shouldn’t be any worse than that. In my opinion, the closer Apple gets to its 52 Week low the more attractive a buy signal becomes, kind of a self adjusting price cycle.

    1
    September 26, 2022
  4. Gregg Thurman said:
    I see that sideline cash and cash equivalents are currently estimated at $4.6 Trillion. Since the Discount rate hit 2% weekly cash inflows have reach $30 Billion. This does not include checking accounts.

    When average equity yields exceeds 5% (risk adjustment over cash yields) I think you’ll see a reversal on that cash inflow metric.

    $4.6 Trillion (and growing) is a lot of dry powder.

    1
    September 26, 2022
    • Aaron Belich said:
      Pardon my lack of knowledge, but where is this estimate coming from Gregg? TIA!

      0
      September 26, 2022
      • Bart Yee said:
        @Aaron
        Bloomberg link to story:
        https:// (remove this space)

        www. bloomberg.com/news/articles/2022-09-26/traders-who-just-want-to-survive-sit-on-5-trillion-cash-pile

        0
        September 27, 2022
      • Bart Yee said:
        @Aaron
        Bloomberg link to story:

        www. (Remove this space) bloomberg.com/news/articles/2022-09-26/traders-who-just-want-to-survive-sit-on-5-trillion-cash-pile

        0
        September 27, 2022
  5. Gregg Thurman said:
    Internet search and Apple News.

    1
    September 26, 2022

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