Should our momentum comparative continue to prove prescient, it looks like the summer should offer up a seasonal sale. While we would estimate the stock could have another ~3% of upside from here, we don't see much more and defer to the comparative for guidance.
While our long-term expectations still remain favorable, we do expect Apple to continue its stair-step and consolidating pattern as it regains its swagger.
For further reading on this concept - see some of our previous Apple notes:
The Universal Law of Gravitation