GO
Loading...

Apple Must Hit These Targets: Brown

Wednesday, 16 Jan 2013 | 12:57 PM ET
Apple Needs This Earnings Level: Brown
Attributing a bounce in Apple to comments from Tom DeMark, Josh Brown of Fusion Analytics says the company needs to hit specific targets to avoid a stock meltdown.

Attributing a bounce in Apple shares comments from Tom DeMark, Josh Brown of Fusion Analytics said Wednesday that the company needs to hit these targets to avoid a stock meltdown.


Apple Stock Bottoms Here: DeMark
After turning bearish on Apple shares on Sept. 21, Market Studies founder and CEO Tom DeMark says they have bottomed at this level.

How to trade Apple shares was anybody's guess.

"I think right now you're in the dark," Brown said. "You have technical to work with and not fundamentals. A lot of the technicians were talking about where support should be. Most of them were saying somewhere around the $460s. We didn't get there. We had this DeMark bounce because of what he said on 'Fast Money' last night."

On Tuesday, DeMark of Market Studies said that several factors were converging to signal a bottom in Apple stock, forecasting "a very strong rally of at least 22 percent."

Brown didn't hazard a guess as to Apple's stock in the near-term, but ahead of earnings next week, he offered a milestone.

"I don't know how long that holds, but what I can tell you is, they don't come in with over $13 a share a week from today and at least $54.5 million in revenue, this is going to revisit those $480 levels and much worse," he said.

Trader disclosure: On Jan. 16, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Josh Brown is long AAPL; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long SBUX; Pete Najarian is long AAPL; Pete Najarian is long BAC; Pete Najarian is long GS; Pete Najarian is long MS CALLS; Pete Najarian is long XLF CALLS; Pete Najarian is long RIMM; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Enis Taner is long GS; Enis Taner is long WFC CALL SPREAD; Enis Taner is long FB PUT FLY; Enis Taner is long YHOO; Enis Taner is long SPY PUTS; Mike Murphy is long AAPL; Mike Murphy is long C; Mike Murphy is long GS; Mike Murphy is long TGT; Mike Murphy is long FB; Mike Murphy is long EBAY.

  Price   Change %Change
AAPL
---

Featured

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.