Apple (AAPL) is Getting its Mojo Back

March 22, 2013 1:00 PM EDT
Don't look now but Apple (NASDAQ: AAPL) is higher again. In fact the stock is up five of the last seven sessions, including today's 1.5 percent gain.

Shares continue to benefit from the upcoming cash distribution catalyst, speculation of a China Mobile deal, ho-hum reviews for Samsung's Galaxy S4, and a potential weak U.S. launch for BlackBerry's Z10.

On the technical side of the trade, shares crossed above the important 50-day SMA at $456.31 and EMA at $456.76. Shares of Apple last traded at $459.59.

On or before Q213 earnings, which is due on/about April 22nd, Apple is expected to make an announcement on its cash. A higher and/or special dividend, a higher and/or one-time stock buyback and a potential stock split are on the table. There's also David Einhorn's iPrefs idea, although that is considered a long shot. Interestingly on the stock split, announced a 4-for-1 stock split today, driving the stock up 2 percent.

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