The Chartist Pleased with Apple Stock

Appleis financial performance has The Chartist editor, Dan Sullivan, recommending investors buy, according to Forbes. Sullivan feels that Appleis relatively high strength, along with its out-performance, compared with national averages, supports his advice, and he has moved Apple to the top spot in his high strength stock list.

Apple has been building a track record for the overall strength of its stock for over a year. Sullivan noted that as of November 2004, Apple had already held its gains for 12 months. Appleis stock then shot up to US$45 in February of 2005 before slipping to a slightly lower average. The stock value, however, did continue to rise, jumping above Februaryis prices in August.

Apple finished the fiscal 2005 year by posting its highest earnings ever. The company reported sales of $13.93 billion, and earnings of $1.43 billion, driven by strong iPod sales, and a resurgence in Mac sales.

Apple is currently trading at $59.66, up 2.16 (3.76%)

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