It wasn’t long ago that we were reading about a menacing slowdown of iPhone sales in China, but the news evidently has been forgotten with the stock’s push into new record territory. It has trailed Microsoft for a few good reasons but now appears eager to make up for lost time. Most immediately, that would portend a run-up over the very near term to 204.01, the Hidden Pivot target of the eye-jarring pattern shown in the chart. If bears push past it easily with feverish short-covering in the days ahead, it would bring into play a 253.96 target derived from a lower ‘A’ at 53.15 recorded in March 2020.
AAPL – Apple Computer (Last:197.57)