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Apple Inc. (NASDAQ:AAPL) to Jump the Fiscal Cliff

As we move closer to a fiscal cliff deal Apple Inc. (NASDAQ:AAPL) is looking more and more attractive, we estimate AAPL will break $600 within 48 hours of an announcement that the fiscal cliff issue has been resolved.

US futures are trading higher, but I would be happy to see AAPL just consolidate in this range today.

What is the market waiting for? Clarity

The politicking that marked the debt ceiling fight in 2011 earned the United States its first-ever credit downgrade and rocked stock markets. The threat of a similar fight in early 2013 will leave both investors and the economy in a tough spot until the matter is resolved, but I have faith that all we are seeing is a political show, the US Government can not be let to go in to default, the country’s legal borrowing limit needs to be raised in the next 10 weeks or so if lawmakers don’t want the federal government to risk defaulting on U.S. debt.

As soon as the issue is off the table markets will rally, I will sell that rally as it is my opinion that whatever the outcome the debt ceiling and printing of money is extremely dangerous long term.

Apple Inc. (NASDAQ:AAPL) is not at risk excessively as far as the US Economy grows, most of their sales in 2013 will happen outside the USA and the items they are producing are entertainment devices to a large extent so they are somewhat recession proof.

$630 remains our target.

The various court case wins and losses are just noise, ignore them, the defeats and victories will be more posturing than financial.