It's a shift from an equity that fluttered in the wind, up or down, at every news item to a stolid momentum play which behaves more like the high tech market leader that Apple really is. Momentum is an odd phenomenon. It gains steam only after all the early investors, who know the stock's true potential, have long been on board and are even getting frustrated with Wall Street's lack of acuity. Even in this era of rapid access to information, the bulk of investors can digest the facts only so quickly. Not everyone follows Apple's business as closely as we do.
Investors have lives.
So do analysts and their upgrades are always a day late and a dollar short. Analysts love momentum because securities with price momentum are easy to predict. AAPL's overall direction has become a no-brainer. I was just looking at the AAPL chart trying to discern some sort of tradable pattern, wondering if AAPL has found a plateau where a bit of consolidation can take place. It is true that many of the technical indicators are maxed out in the positive direction for AAPL suggesting the need for a rest.