Apple Computer shares approach $60 mark, hit new all-time high in morning trading

Shares of Apple Computer, Inc. (AAPL) this morning surged to $59.83, up $2.33 or 4.05% on heavy volume of 14,615,301 in NASDAQ trading to hit a new all-time intraday high. Apple previous intraday high was $58.14 set yesterday. Apple’s 52-week low was $26.02 on 11/05/2004.

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  1. Hey Boss,

    The last team I supported — The Expos — packed up and went to crack city. I’m allowed to be bitter. ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

    MDN word: Training, as in “The Washington Nationals invited 11 crack dealers to spring training.”

  2. There are a lot of new investors who like Apple and so they open a ScotTrade account and buy some stock. But do they really know what they are doing? Here are a few tips:
    (1) Stock is ownership in a piece of a company. Stocks go up because the company is seen as being more valuable and the demand to own it outpaces the (to simplify) fixed supply.
    (2) Some stocks pay a dividend, that is, a cash payout per share, to shareholders. Sometimes this is a one time thing, sometimes it is a regular quarterly payout factored into the price of the stock. AAPL doesn’t do this.
    (3) Uncle Sam also wants a piece of your profits. If you buy at $50 and sell at $60, it sounds like you made $10 a share. But unless you held the stock for 365 days, you will have to pay capital gains on that stock, 40% of earnings ($10×40%=$4). So you only made $6 a share, not $10.

    While it is possible to be lucky, even lucky several times in a row, it is impossible to time the market over the long term (think winning BlackJack hands in Vegas – possible a few times, impossible to beat the Casino in the long term).

    Remember that if a company’s fundamentals or the market does not deteriorate, the best strategy is “buy and hold”.

    MDN word: most

  3. Here we go again: Next 10Q it will drop 10~15 points as AAPL misses anal-yst projection by 2¢.

    The AAPL “pump-and-dump” scam continues and the sheep are lapping it all up.

    ” width=”19″ height=”19″ alt=”raspberry” style=”border:0;” />

  4. On the 16th February, Apple had a market capitalisation equivalent to 35.93% of that of Dell Computer.

    As I write, that figure is now 70.38%.

    During that time, Apple’s market cap has increased by 36.6% and Dell’s has declined by 30%.

    Ain’t karma a bitch.

  5. me, perfectly agree with you.

    I started playing with AAPL when it was ~$14 with an initial investment value equivalent to the value of a good car. Now I could buy 6 of them but although I am very happy about that what you say is perfectly sound.

    My game has been valid only because of what you say above:
    “lot of new investors who like Apple and so they open a ScotTrade account and buy some stock”

    Luckily they go scared easily and sell again allowing at least two years of amazing riding the cycle high/low sell/buy.
    It won’t last very long and I’ll then simply hold for a regular smooth appreciation of the stock without wild spikes.

    Wow, anyone remembers the $45+ to go to $34 in 10 days? ” width=”19″ height=”19″ alt=”grin” style=”border:0;” /> Good old days!

  6. Avoid “pump-and-dump” (which is NOT what is happening here) situations by setting “Stop Limit” orders. These allow you to set a trigger point. If the stock drops to or below that, it immediately issues a market sell order. You aren’t guaranteed to get that price, but you will get it within a few pennies depending on th erate of decline.

    By setting these tight (within a small percentage of the market value) you can basically “lockin” gains. Just beware of setting them too tight. AAPL’s Beta is about 2 which means it is twice as volitle as the overall market, so big swings are par for the course. (as we have seen.)

    MDN word: been

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