With shares drooping, is Apple again ripe for the picking?

“In recent months, Apple Computer’s stock has drooped ever lower. But have the shares fallen so low that the former can’t-miss tech stock is ripe again for the picking? Some investors believe so, and they’ve started putting their money where their mouths are, buying up the stock amid the selloff,” Troy Wolverton writes for TheStreet.com. “‘I’m sitting here aghast seeing this [stock] go down on a daily basis,’ says one longtime bull on the shares, who asked to remain nameless. Apple’s stock should rebound later this year amid improving financial results and a broader shift in investor sentiment, says the investor, whose fund is long Apple and has been buying shares in recent sessions. But even investors who agree with predictions of a second-half rebound aren’t sure that now’s the right time to get in.”

Full article with much more here.

MacDailyNews Note: Currently, AAPL stands at $61.20, up $2.49 or 4.24% on heavy volume of 56,346,025 shares.

Advertisements:
Apple’s brand new iPod Hi-Fi speaker system. Home stereo. Reinvented. Available now for $349 with free shipping.
Apple’s new Mac mini. Intel Core, up to 4 times faster. Starting at just $599. Free shipping.
MacBook Pro. The first Mac notebook built upon Intel Core Duo with iLife ’06, Front Row and built-in iSight. Starting at $1999. Free shipping.
iMac. Twice as amazing — Intel Core Duo, iLife ’06, Front Row media experience, Apple Remote, built-in iSight. Starting at $1299. Free shipping.
iPod Radio Remote. Listen to FM radio on your iPod and control everything with a convenient wired remote. Just $49.
iPod. 15,000 songs. 25,000 photos. 150 hours of video. The new iPod. 30GB and 60GB models start at just $299. Free shipping.
Connect iPod to your television set with the iPod AV Cable. Just $19.

Related article:
Cramer: ‘I have never seen a systematic, multiweek bear raid like I have on Apple Computer’ – March 27, 2006

19 Comments

  1. I’m hope this is a sign that the train is leaving the station….everyone pushing it down waiting for the whistle…then when it happens, don’t want to be left standing on the platform.

    I don’t know shit about what I’m talking about.

  2. “Meanwhile, with the recent selloff, some investors who might have been scared away by Apple when its stock traded at $85 might start seeing a bargain. Taking out the company’s $8.9 billion in cash and investments, it now trades at less than 20 times next fiscal year’s earnings, a multiple many investors might consider reasonable for a company growing this quickly.”

    AAPL is cheap, people!

    I wouldn’t be surprised if iPod sales or Mac sales have softened this quarter (although there really isn’t much evidence of that, and it’s kinda counter-intuitive to say iPod sales will decline when the Shuffle is only $69 and one can get a nano for $149.

    But you gotta realize, Apple is still making a lot of money. iTMS is selling 3+ million songs a day. They are selling millions of videos. Apple has 1+ million .Mac subscribers – that’s a significant amount of recurring revenue. They’ve opened up a lot of stores this quarter. I bet the new iLife and iWork are selling like hotcakes.

    So at only 20x forward earning, AAPL is looking pretty darn cheap right.

    (Just imagine how much the stock will pop if the rumors about the iPhone turn out to be true!)

  3. I SOLD MY SHARES AT $61, AND RECOVERED ALL MY LOSSES. PEEWFF! I AM KINDA PISSED OFF THAT IT IS STILL GOING HIGHER.

    BUT HEY..

    THE STOCK WAS POISED TO GO DOWN AND DOWN AND DOWN AND DOWN MAYBE EVEN TO $54’S… IF IT WASNT FOR THE NEWS THAT GAVE IT A BOOST.

    REASON WHY STOCK WENT UP SO HIGH IS BECAUSE SO MANY DAYTRADERS AND COMPANIES WERE WATCHING IT AND SHORTERS HAD TO CALL IT QUITS.

    I WOULD HAVE RECOMMENDED TO KEEP THIS STOCK FOR ANOTHER 5 DAYS TO SEE WHAT 30TH BIRTHDAY DOES TO IT BUT IT WENT UP TO HIGH.

    TIME TO GET OUT!!!!

  4. G Spank
    “My PREDICTION: We just saw the low point yesterday. From here it’s nothing but a (generally) steady climb…”

    Why didn´t you tell us that yesterday and how many shares did you buy yesterday????
    LOL
    Always these genius stock pickers here. Always here, always wrong.

  5. The price you ‘ll buy at doesn’t really matter, this is a long term investment. It’s how much profit will be made in a few years.

    In fact I am just an amateur. I bought a few shares at $84 in January. I could have gotten depressed when it dropped to $58. Instead I bought more last week at $61.
    Apple is about long-term market share gains.
    I think now is a great time to buy.

  6. iYann i disagree a little bit.
    anyway back to using caps and being me..

    STOCKS ARE GOOD VALUE AT MID TO END OF AUGUST. UNTIL THEN THERE IS NO TELLING WHAT WILL HAPPEN. OH AND THE REASON THEY ARE GOOD VALUE AT MID TO END OF AUGUST IS BECAUSE THEY DROP AND DROP AND DROP UNTIL THEN.

  7. I bought an emac 700 (I’m in education) a few years back and liked it so much that I also bought 100 AAPL shares. I beleive that I paid about $16.00 a share. Funny isn’t it. I sold off 1/2 of the around $75.00 and today I bought 100 more. Sotocks are not my thing, I have a guy that does all that stuff for me, but I think this AAPL thing is just plain fun. Next time I cash in I plan to reinvest in a new powerMac (ProMac?) with 30 in. display. Kinda makes me wish I would have bought 1000 shared.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.