Wondering when might be a good time to buy Apple stock before it soars to $1,001? One analyst thinks it could decline to $527 a share, but experts are suggesting you shouldn’t wait for it to fall to that point.
Merlin Securities analyst Rich Bensingor has predicted that Apple's stock could go as low as $527. His prediction is based on chart analysis, he points to two things:
“The initial decline from all-time highs to the mid-April low close of $580 had the chart’s grey lagging line (i.e. the current price of the stock, displayed 26 days prior in time) bounce right from its daily conversion line.”
And: “The decline since peaking at the 20-day moving average has had 3 closes in a row take place where the grey lagging line is now hitting its daily base line.”
Barrons shows Bensingor’s chart.
However, there are a lot of things that can affect Apple’s price both negatively and positively. The Motley Fool points to the following positives: iPhone 5; an Apple TV; continuing good earning announcements.
There are also the following negative catalysts: Microsoft Windows 8; Microsoft investment in Nokia; Verizon and AT&T are questioning the hefty subsidies they are paying to carry the iPhone.
The general consensus is that there is no way to predict when a good time to buy Apple stock would be based on past fluctuations, there are too many factors that can effect the share price.