Today AAPL has a shareholder meeting and a lot of the focus has been on the replacement of Steve Jobs and the lack of information that AAPL is releasing about their succession plan. I believe that news stories are just the markets way of manipulating prices to where traders want them to be, which is why I believe so much in my levels.
AAPL closed right on the 50 day SMA yesterday and as of this writing is up $2.89 after a $12 drubbing yesterday. To me this signals the potential for a big announcement today at the meeting. Their last stock split was February 28 , 2005 and was a 2 for 1 split but of course AAPL has seen crazy growth out of their stock price since then.
The AAPL board is made up of smart people and they know that a stock split could deflect alot of the bad press about Jobs and their succession plan so today makes a lot of sense. It certainly would make for an intereting day.
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