“In a note to clients issued Monday, CLSA’s Avi Silver seeks to calm nervous Apple (AAPL) investors in the wake of the stock’s ‘bear market’ 22.4% drop since it topped $705 in intraday trading on Sept. 21,” Phillip Elmer-Dewitt reports for Fortune.
“‘We believe Apple’s fundamentals are intact,’ he begins, suggesting — as sell-side analysts are wont to do — that the stock’s miserable performance over the past seven weeks creates a ‘buying opportunity,'” P.E.D. reports.
P.E.D. reports, “Silver is particularly enthusiastic about the iPad mini. ‘We believe the iPad mini will be a home run,’ he writes. ‘As former users of the Nexus 7 and now proud owners of the iPad mini, we believe Apple’s brand, premium feel of the product, 35% larger screen (substantial), will drive consumers to pay up the extra $80-130 for this product.'”
Read more in the full article here.
Two things need to happen:
1. Positive reports like this need to be the large majority of articles for aapl.
2. Brokers will need to start recommending buys to their clients.
Once the pumping up starts the stock will soar.
There are people who listen to brokers????!!!!
I wish I had. At 705 my broker at Smith Barney said I should put a stop loss around 650, that would be prudent. I did not because I needed to wait until Nov 1 for them to fall under Cap Gains rate. Damn. I am stuck with 1,000 shares that are down $163k. I could have paid straight taxes 3 times with that loss. So maybe your are right, nobody listens to brokers. Wish I had.
I have fewer shares, but I ignored the instinct to lighten up on my AAPL holdings as it approached 700. Like many, I’m left licking my wounds.
Those wounds will heal quickly when it rebounds. The only real loss you’ll take is the lost opportunity to sell high and buy back in lower.
I’m glad I took profit at the top ($700) when I knew that I should. AAPL has a history of going down after product release or earnings. I knew that if I stayed in I would be greedy and foolish. So I pulled the trigger. Difficult to do sometimes when things are going up. But it was time and I knew it. The stock had reached an all-time high. I learned years ago that not taking profit occasionally can burn you. It burned me. CupertinoJoe can tell you that he wishes he had pulled out and had that money sitting there waiting now. The stock may go up someday but that’s still $163,000 left on the table. That can’t be glossed over. Sell high and buyback lower, that’s real that’s not imagined. That’s what you’re investing for. Profit. It’s a long way back to $705. Opportunity lost. Lesson learned. Hopefully. I learned the hard way once. I learned that buy-and-hold isn’t what you think it is. Never be greedy. Learn to take profit occasionally.