Has Apple Formed A Double Top? Asks Dr. Joe Duarte

Mon. June 16, 2008; Posted: 06:40 AM

Duarte added: Thanks to the Drudge Report, the world got to see a picture of Apple CEO Steve Jobs looking gaunt during a recent presentation. With Mr. Jobs' history of pancreatic cancer, the speculation about his health began. And although the company issued a photograph from the same presentation, which showed Jobs looking much better, and issued a statement about him having had some sort of bug and recovering from it, the damage was done. So here's the situation. Apple has a lock on the cool gadget market. IPods, iPhones, iTunes and related paraphernalia are essentially a money-printing press for the company. And Jobs is the brain and the brawn behind the company's resurrection and return to the top of its game. However, with PC sales starting to improve, and companies like Dell and HP starting to awaken, any kind of significant issue with Jobs essentially puts Apple on the defensive.

And that brings us back to the company's stock chart, which looks to be making a double top. A break below 160 could take the stock to 120 at a pretty good clip, since there isn't a whole lot of support under 160.

Duarte's conclusion: From the look of things, Apple has to convince investors that Mr. Jobs' health is A-O.K. Thanks again to Mr. Drudge and company for making life interesting.

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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).

Duarte's IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron's, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.

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For full details on Apple Inc (AAPL) click here. Apple Inc (AAPL) has Short Term PowerRatings of 8. Details on Apple Inc (AAPL) Short Term PowerRatings is available at This Link.

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