Shares of Apple Computer (AAPL) are up $4.35, or 6.74%, to $68.90 per share on heavy volume of 24,912,671 in afternoon NASDAQ trading ahead of next week’s financial earning reports and Steve Jobs’ Macworld Expo keynote. Apple’s 52 Week High stands at $69.57 and was set on 11/29/2004.
“First Albany Securities analyst Joel Wagonfeld raised his first-quarter earnings estimates on the company to 50 cents a share from 47 cents. Like many Wall Street watchers, Wagonfeld said an upbeat view of iPod sales is behind his earnings revision. ‘We expect consensus estimates (for 2005) to take another step function forward, which should enable further (share) appreciation,’ Wagonfeld said, in a research note. Many investors and industry officials expect a positive report from Apple when it delivers its results on Jan. 12. ‘Expectations are running high, as we think investors may be anticipating 4.5 million to 5 million iPods (sold),’ Wagonfeld said. Such numbers would be close to double the 2.7 million iPods Apple said it sold in its 2004 fourth quarter,” Rex Crum reports for CBS MarketWatch. Full article here.
NASDAQ Apple quote (15-minute delay) here.
I posted yesterday that the new earnings would take care of the high P/E ratio. The stock will cost you almost $5/share more today.
That 52-week high is not long for this world. Kiss it good-bye.
Bring it on! I bought another load of AAPL at 68.60 (on my friggin credit card no less) and then watched it drop for the last month….now the rest of those investors are finally waking up!
Hoping Apple stocks will help me buy my first house at the end of the year!
Allow me to boast. I bought 1,000 shares yesterday morning. Does that make me extra cool? No just damn lucky. Either way, feels good to have just paid for that 23″ Cinema HD dispaly as well as the iPod in just 2 days. Woo hoo!
Allow me to boast: bought 1000 at 14.16, then kept buying little by little to double to 2000. Sold at 69.28.
I’ll rebuy 2000 when they will lose a couple bucks again.
PS
Magic word “case”
Apple are now within $7.7 billion of having a market cap in excess of Sony (SNE), $7.5 billion of Matsushita and within $5.0 billion of Royal Philips (PHG).
About 2 years ago I bought a pile of AAPL for just under $15/share for three reasons: because it seemed undervalued to me, because I knew Steve Jobs was a driver and innovator, and because it was obvious that the Microsoft/Intel cartel felt no need to innovate or even pay attention to quality control. Not only has AAPL paid for my new G5, it’s about to pay for my house. When the stock price hit $22 analysts like those at Merril Lynch finally took notice and declared that it might hit $25. So much for listening to the analysts as they cast bones and read goat entrails.
Here, here. I started buying AAPL when it was down to $13/share and have been adding to my holdings periodically. AAPL has been a great ride so far, and let’s hope it keeps on going!
Lately, though, I’ve noticed analysts have had a change of heart when it comes to AAPL. For example, I was surprised when Piper Jaffrey came out with the $100 price target, which actually seems to be a real “forward looking” price TARGET instead of “covering-our-butts” upgrade to prevent outright humilition.
Bought shares with my Amex, got air miles, paid the bill with a check from MC and financed the stock purchase for the past 10 months at 0%. Will sell after MW and the earnings statement is released and hopefully net in the $40.00 per share profit range. Ya gotta love plastic money. Thanks Steve
To all those eager to make a killing on Apple stock and who currently don’t own it:
DON’T GET SUCKED INTO IT NOW
Keep your money. Remember “buy low, sell high”. It is great to hear that people are making tons of money on Apple *now*, but the window to buy was before last year. Sure, the analysts make good predictions once in a while, but remember their goal is to take your money and make some for themselves while they are at it. You should only invest in the stock market if you are comfortable with the risk, have enough disposable income, and are willing to endure a long-term approach to investment. Always consult a professional if you are new to the market.
Expect the stock to go down a few weeks after Macworld due to lag times in retail distribution and the settling effect that always occurs after an event like this. Do your research on previous swings in AAPL stock and you’ll be happy with the outcome.
Rufus McSquid, my story exactly
edgeknight: absolutely. Gold valued advices.
Last time AAPL lost quite some after MacWorld then climbed again.
If somehow one follows more or less the trend the AAPL has been quite a $ generator.
PS
Magic word “make”
PPS
Now, this MDN Magic Word is becoming scary…