Caveat: I am not an expert Elliottician, though I have studied it to a reasonable degree. I use it to get a sense of where things may stand in very long term pictures. And when it comes to Apple, it's a beautiful, textbook, large Elliott wave structure, fitting that the crown jewel of the stock market would reveal itself so neatly.
On the monthly chart, a very clear five wave impulsive pattern has unfolded, with the third wave consisting of five waves itself. If this is the "correct" count, then the last ten years may now correct.
Given the geopolitical tensions between the US and China, and given the fact that Apple has placed in China's custody, the majority of its productive capacity, to say nothing of the fact that we have no idea how much of Apple's unpatriated capital from sales in China can even be repatriated, it is not out of the question for this entire move to now correct. In Elliott wave theory, it can go as low as the top of wave one, or roughly $100 per share. It doesn't have to, but it can.
If this count is correct, it may takes several years to unfold, and will do so in its own three wave pattern.
On the monthly chart, a very clear five wave impulsive pattern has unfolded, with the third wave consisting of five waves itself. If this is the "correct" count, then the last ten years may now correct.
Given the geopolitical tensions between the US and China, and given the fact that Apple has placed in China's custody, the majority of its productive capacity, to say nothing of the fact that we have no idea how much of Apple's unpatriated capital from sales in China can even be repatriated, it is not out of the question for this entire move to now correct. In Elliott wave theory, it can go as low as the top of wave one, or roughly $100 per share. It doesn't have to, but it can.
If this count is correct, it may takes several years to unfold, and will do so in its own three wave pattern.