Clem Chambers, CEO of ADVFN (LSE:AFN), the leading stocks and shares website Apple is, once more, at its all-time high. The fact it hasn’t had a revolutionary product for years doesn’t seem to matter, since what these products bring to the business bulldozes the bears with great top- and bottom-line figures.
That momentum is a living tribute to the genius of Jobs. But now, there’s some truth on the horizon. The Apple wearable needs to be good and the iPhone 6 needs to be striking. That hope is holding up Apple’s stock price at the same time as general market conditions are starting to provide strong headwinds.
There’s been a five-year bull market in stocks, and this looks likely to take a time-out anytime now. For a believer in charts, Apple could be at a peak called a ‘head and shoulders’. It’s worrisome.
Yet all Apple needs is some sizzle in iPhone 6, some dazzle in its new wearable, and its stock will be in good shape to pound the doubters again.
Let us hope for some new Apple goodies his autumn.