Apple Defies Gravity?
I was struck by the frenzy at one of the Nespresso stores the other day. Hysteric buyers of luxury coffe, sweating to buy their lifestyle coffee, willing to spend hundreds of USD on coffee. If Nespresso was listed, one should probably load up on the stock (the listed Nestle contains many other brands).
It all felt like an Apple store hysteria. People almost in fighting mood to get the latest gadget. Meanwhile, the hedge funds have all loaded up on Apple stock and just waiting patiently for the parabolic move to continue. Whether Apple is going to 1k, 2k or 13k is impossible to say, and no we don’t suggest shorting Apple here, but some caution ahead, as the stock is “unstoppable”.
Some charts of Apple below;
Apple long term chart.
Apple weekly.
The Apple/Amzn ratio is also getting “out of control”. 2 year chart.
3 year chart.
Charts Infront
I don’t trade counter-trend, so I will let AAPL run its course. It has been on a tear but at some point will end badly. I am waiting to see a parabolic blow off top. Who knows when?