With the blowout earnings and the after-market jump in shares, the recent 12% correction becomes a 3 wave affair.
Now I think wave (v) of the advance from Nov 2011 is underway in AAPL. Whether that advance is wave 5 or wave 3 (alt count) remains to be seen. Only a decline below 550 will invite reassessment.
AAPL Longer term count
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