Apple Joins the Establishment

I was more than amused when technology analyst superstar, Piper Jaffray’s Gene Munster, put out his own forecast that Apple (AAPL) would reach $1,001. Munster made the call after conducting a survey that showed that 40% of students plan on buying an iPhone in the next 6 months, while 19% of non-tablet owners plan on purchasing a tablet in the next 6 months.The shares responded by immediately running up to a new all-time high of $632.

For my own prediction of this target, you have to reach back 18 months, when it first breached $300 (click here for the piece). With the establishment now jumping on the bandwagon, is this an indicator of a short term trading top in the sought after stock? Those deep out of the money short dated Apple puts are starting to look more interesting by the day.

 

Is Apple Losing Its Flavor?