Apple's Share Run-Up May Have Run Out of Gas
This week Apple's modest earnings forecast and the lackluster reaction to the company new Mac Book Air pressed the company's shares below $305. Its assault on higher prices may be over for now, even though some analysts have price targets on the stock that are close to $400
Apple is not expected to launch any major product initiatives in the near future, and the anticipation of such launches has often driven the company's share price higher. Even rumors that a new version of the iPhone is on tap has done little to help; even if the rumors are true, few expect the "iPhone 4.1" to make it to market until next year.
Apple's next big milestone is the announcement of the quarter that covers the upcoming holiday sales period. That announcement is three months off. In the near term, the fuel for the stock's recent rally may have run out.