TradingKey – Apple Pulls Back After High-Level Consolidation; Will the Debut of the First Touchscreen MacBook Pro Reignite the Engine for New All-Time Highs?

On October 20 ET, Apple (AAPL) extended its recent pullback, falling nearly 1% in pre-market trading today to drop below $340, trading at $339.74. Can the upcoming debut of the first OLED touchscreen MacBook Pro help AAPL halt its decline and rebound, or even drive the stock to a new record high?

Last Tuesday (October 13), Apple’s stock price hit a new record high of $348.15. After its market capitalization briefly surpassed the $5.0 trillion milestone, substantial short-term paper profits accumulated. Some institutional capital chose to lock in gains in the high range of…