Apple is up in the premarket today after reporting earnings that we're not quite as bad as analysts had suggested after many downward revisions. The market has responded modestly and it should open up ~5% today. Whether or not it holds is another story and is largely dependent on the broad market. Regardless, the market has more or less written Apple off completely. With almost $400B in market cap, a P/E of 10 and a dividend yield of 2.8%, the market is pricing it like a utility company not a tech company. Over the past several months, it has formed a base pattern similar to that in 2009. Maybe I'm just seeing things...
