AAPL has broken the $510 resistance and currently trading in an uptrend. An “Higher High, Higher Low” up trend channel has been formed. In addition, AAPL is following a Fibonacci Expansion pattern and probably heading toward the price target of $587 (161.8% Fibonacci Retracement Level). So far the 61.8% Fibonacci Fans is providing a good support.

Check previous AAPL’s fundamental analysis and Intrinsic Value here.

Check out here if you want to learn about Fundamental Analysis and how to calculate Intrinsic Value using Discounted Cash Flow (DCF) model.

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