Michael Kors, Still Got it?

Let’s talk about Michael Kors (NASDAQ:KORS).

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Listen, here’s the thing: this is a stock with a very, very ugly chart. I just think it’s being punished on an assumption that they’re not hip, not cool anymore.

I will say anecdotally, I don’t see as many people in the stores as I used to. But the numbers have been phenomenal. The red flag has been same-store sales in America, but that’s been made up in Europe, and I think they’re going to be a huge, big time hit in Asia, particularly in China.

As far as execution now, they’ve beaten the Street in four of the last four quarters. Fiscal year ‘15 earnings estimates continue to ratchet higher. They’re going to grow, I think, at least twice or 75% faster than the rest of the industry for many, many years to come.

Technically, you saw that down channel, it’s at the cusp, above $80. It breaks out through that channel, and I bet you will see a lot of people jump on that stock. For a trade, $80 to $91, I think can happen.

Longer term, I do think it’s a $100 stock.