Has Apple (AAPL) hit a wall at $200?
August was not especially kind to the stock after hitting an all-time high of $198.23 on July 19th:
Many times in the past, Apple's growth prospects have come into question but the stock's performance over the long-term tells a different tale, of course. It has been on a relative strength buy signal -- indicating its outperformance vs. the S & P -- since March 10th, 2004!
Put more simply, the results over that time are stunning:
Apple up 35,823%
S & P up 296%
We have held it in our portfolios for some time. We consider it a core holding and have current no plans to exit. What would change our minds about Apple?
A relative strength Sell signal. But that would take place at a price roughly 1/3 lower than today's.
In this case, take Cramer’s advice on Apple: don't sweat the short-term corrections. Own AAPL, don't trade it.