UPDATE: Apple (AAPL) Getting Attacked Every Which Way But Loose
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Price: $291.17 -1.51%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +19.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +19.7%
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(Updated - March 1, 2012 10:22 AM EST)
As shares trade near all-time highs, Apple (Nasdaq: AAPL) is getting attacked from all angles.
After getting whip lashed Wednesday after comments from a technical analyst, now noted trader Doug Kass is out making a short call on the iPhone maker. He notes that shares are trading at a historic premium to any of its moving averages.
On Twitter, Kass said:
"With Apple trading at an historic premium to any of its moving averages I have taken a small short in Apple (again!) at 546.10."
Essentially, both Kass and the technical analyst last night are worried about the big gap between AAPL's moving average and the current stock price. They expect that gap to be filled, which would mean a correction in the shares. Look at the chart below to see the relation between the current share price and the 200 and 50 moving average.
Shares of Apple are currently up $2.83 to $545.27
As shares trade near all-time highs, Apple (Nasdaq: AAPL) is getting attacked from all angles.
After getting whip lashed Wednesday after comments from a technical analyst, now noted trader Doug Kass is out making a short call on the iPhone maker. He notes that shares are trading at a historic premium to any of its moving averages.
On Twitter, Kass said:
"With Apple trading at an historic premium to any of its moving averages I have taken a small short in Apple (again!) at 546.10."
Essentially, both Kass and the technical analyst last night are worried about the big gap between AAPL's moving average and the current stock price. They expect that gap to be filled, which would mean a correction in the shares. Look at the chart below to see the relation between the current share price and the 200 and 50 moving average.
Shares of Apple are currently up $2.83 to $545.27
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