Analyst: ‘Keep an Eye on Apple’ in 2014

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Will Apple (NASDAQ:AAPL) make investors a fortune in 2014? In a recent interview with Bloomberg’s Betty Liu, Trading Advantage Senior Market Analyst Alan Knuckman called out Apple as a stock to watch in the upcoming year. When asked if the markets could repeat the gains seen in 2013, Knuckman noted that it has been “a tragedy that people have not believed in [the markets] this year.”

However, after admitting that 2013 had set a “high bar,” the analyst said that he remained optimistic and still expected the markets to move higher. Knuckman also suggested that Apple may become an important market catalyst in 2014. “I think you want to keep an eye on Apple,” Knuckman told Bloomberg. “As Apple goes, I think people’s fortunes will follow.” The analyst also noted that the California-based company appeared to be on the verge of a “breakout.”

“We’ve been in a wedge here at Apple,” stated Knuckman. “$605 is the next target for Apple — that’s about 6.5 percent higher.” However, Bloomberg host Liu seemed skeptical of Knuckman’s optimism and noted that despite being a big market cap company, “Apple products are losing more and more market share.”

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