Apple Inc (AAPL)

[Scarbender307]

The one year chart appears to indicate the beginning of a cup and handle formation. Two more weeks of a tight trading range of +- (5-10) points will build the handle. I'm told this is a classic build-up formation for a higher run. Secondly, any fears of China retribution against AAPL is probably overdone. China can not afford to suddenly have many millions of its people out of work.

Apple Inc. (NASDAQ: AAPL) announced Friday morning that it will invest more than 3.5 billion yuan (about $506 million) to establish research and development centers in Shanghai and Suzhou, China. But the most interesting bit in the announcement comes in the boilerplate at the end of the press release: “Apple has created and supported 4.8 million jobs in China …” (thanks to Google Translate). That’s about 2.5 times the number of jobs the company claims to have created and supported in the United States.