Apple Heading to Mega-Peak

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Well, I don't touch AAPL with a ten-foot pole. It's a beast. But it's also the only thing holding up this market. It seems to me it is on an unstoppable path to the magical, round, headline-grabbing number of $500 per share. That price just so happens to coincide with a very long-term trendline, going back almost two decades.

I submit to you that AAPL will cross $500, causing rejoicing everywhere, and then start to slip. Trees don't grow to the sky, and neither do iPhones sales.

0209-AAPL