$AAPL has been trading lower since the middle of September. The stock burst over $500 on the Carl Icahn stake, but has been dropping lower on fears the new Iphone is not going to bring growth to the company. My outlook on $AAPl is below, but before you watch that here is an excerpt about $AAPL from a well respected publication:

It's perfectly reasonable to assume that anyone thinking about buying a new iPhone when the latest devices hit retail on Friday would fixate on the hardware itself, especially with Apple trotting out two new models.

Apple is unleashing colorful handsets called the iPhone 5c, priced at $99 to start with a contract. And a brand new $199-on-up flagship phone, the iPhone 5s, brings with it beefy 64-bit computing power, a souped-up camera and the feature most people are pointing to, the Touch ID fingerprint reader.

But the biggest change to come to the iPhone arrives with iOS 7, the operating system at the heart of the newest handsets. As of Wednesday, it can also be downloaded to freshen up the iPhone 4, iPhone 4S and the now discontinued iPhone 5 as well as some iPads and the iPod Touch.
What does this mean?

The Most Eagerly Anticipated FOMC Meeting In Recent Memory is Here

Will the dollar rally/plummet? Bonds are surely going to be volatile. With stocks sitting at all time highs, will tomorrow be the start of the pull back everyone thought Syria was going to bring?

It will be an interesting trading day tomorrow and the only thing I can say with 100% certainty is that the market will be volatile.

Here is what some are saying about the FOMC meeting:

With tomorrow’s Federal Open Market Committee (FOMC) projections and announcements being such a big deal, it’s only natural that the market’s priority at this stage is caution – dealers do not want to be taken out of, or even given positions that they have not initiated at such a late stage in the game. Today officially marks the first day of the Federal Reserve’s two-day policy meeting, so investors are mostly in a wait-and-see mode ahead of the outcome.

Consensus this far expects the FOMC to announce its first reduction of asset purchases this week – a token taper of $10b – but Fed Chairman Ben Bernanke and the “boys” are expected to paint their decision as dovish as possible. To really do that, policymakers should only be tapering in Treasurys rather than mortgage-backed securities, and by tweaking their rate guidance to include a lower inflation threshold. At this stage, the biggest wildcard is the FOMC’s forecast for Fed funds rate in 2016. Various fixed-income dealers are calling for 2.75% to 3%, putting it significantly above current rates. The market will also be looking for further clarity on asset purchase guidance, the end of which has been tied to a +7% unemployment rate.

http://www.forbes.com/sites/deanpopplewell/2013/09/17/greenbacks-risks-and-rewards-soon-to-be-known/

The Calm Before the Storm?
By Doug Drabik
September 16, 2013

There was very little movement last week in rates. The very short part of the curve lost 1-2 basis points in yield while the 5-year lost 6 basis points settling in at 1.70% from 1.758%. The 10-year fell to 2.89% from 2.94%. Friday had most of the significant economic releases which were less than enthusiastic and all eyes are now focused on next week’s FOMC meeting. Retail sales rose less than expected and consumer confidences fell to a 5-month low. Although it has appeared for weeks that the central bank will reduce its open market bond purchases, many economic releases continue to signal that the economy is weaker than many investors seem to wish for.

Lack of employment, a declining employee base and higher payroll taxes seem to be eroding consumers’ excitement. Consumers seem to anticipate higher inflation although in reality, the global average inflation rate has been below 2% (the Federal Reserve’s target rate) for the last several years.

The much anticipated FOMC meeting is upon us this week. The important concept to grasp is that despite the consensus feeling that the Fed will taper its purchases, tapering is not tightening.

Furthermore, it appears that any movement is overwhelmingly built into the market which implies that an actual announcement to taper may have little impact on interest rates. The best “guess” still seems that the Fed will likely reduce the $85 billion in purchases, not eliminate the purchases and clearly not tighten policy.

Today's FOMC meeting will kick off a two-day discussion of economic policy - and will leave unprepared investors confused...

Both the FOMC policy statement and its economic and market projections will be released on Wednesday at 2 p.m. EDT and will be followed by U.S. Federal Reserve Chairman Ben Bernanke's press conference at 2:30 p.m.

[Editor's Note: Stay tuned to Money Morning for a Wednesday FOMC Meeting roundup.]

The question hot on everyone's tongue is what the FOMC will decide to do about the $85 billion in monthly bond buying - will the inevitable quantitative easing (QE) taper finally begin?

Every time the Fed has stopped a QE program, the markets tumbled:

when qe ends

Almost three-quarters of the 69 economists polled after August's jobs data was released anticipated the FOMC would vote to taper its bond-buying program, according to Reuters. The central bank is projected to trim its monthly spending on QE asset purchases by $10 billion.
Conversely, rumor has it the FOMC may, for a third consecutive time, lower growth forecasts for 2013.

That's because annual inflation is about half a percentage point below the goal the Fed set in December. Plus, although unemployment was lowered to 7.3% in August, that's mainly because so many Americans are dropping out of the labor force:

More than 4 million people have been out of work for more than six months, and a doleful 11.5 million are looking for work in total. In the first seven months of 2013, 953,000 jobs have been created; a full 731,000 of those, or 77%, have been part-time.

In sum, 22.1 million Americans are either unemployed or underemployed.

Even if the Fed doesn't announce a taper, it will be deciding on growth forecasts through 2016. Yes, that seems like a far-away number - but markets will react immediately.

What investors need to be ready for is the Fed to possibly announce a taper and also lower growth forecasts - two clashing moves.

So why would the FOMC do both?

"It wouldn't surprise me if the FOMC lowers growth forecasts for strategic reasons," says Money Morning's Capital Wave Strategist Shah Gilani. "If they lower them and then the numbers come in better than expected, they have room to start tapering and the market won't freak out as much."

On the other hand, if the FOMC meeting today raises the growth forecast or leaves it as is, and growth numbers come in lower, the market will rally on the belief that the Fed will not taper at all.

"The FOMC is inclined to move toward winding down their balance sheet and is counting on doing that if doing so won't freak out the markets and ruin the wealth effect triage triangle: pump up the banks, pump up the markets, pump up consumer confidence to pump up consumer spending," Gilani explains.

When Bernanke speaks on Wednesday after the Fed meeting concludes, he's anticipated to discuss the decline in unemployment, in addition to other jobs data like the drop in labor participation. Plus, he should discuss interest rates and issues stemming from the Syrian crisis and comment on the debt-ceiling debate.

The central bank will not release the minutes of the two-day meeting until Oct. 9, so you'll have to tune in Wednesday for Money Morning's FOMC Meeting Roundup.