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Upgrade Alert for Apple (AAPL)

By David Diaz

Apple (NASDAQ:AAPL) was upgraded from Negative to Positive at OTR Global today. The stock closed yesterday at $117.34 on volume of 37.5 million shares, below average daily volume of 39.5 million.

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

Over the past year, Apple has traded in a range of $89.47 to $132.97 and closed yesterday at $117.34, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

There is potential upside of 25.2% for shares of Apple based on a current price of $117.34 and an average consensus analyst price target of $146.95. The stock should discover initial support at its 200-day moving average (MA) of $108.75 and subsequent support at its 50-day MA of $104.04.

SmarTrend is tracking the current trend status for Apple and will alert subscribers who have AAPL in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Apple

Ticker(s): AAPL