“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.
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Related article:
Cramer: ‘I have never seen a systematic, multiweek bear raid like I have on Apple Computer’ – March 27, 2006
Buy? Sell? Buy? Sell?
AHHHHHHH!
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.
Boooooooooooooyahhhhhhhhhhh!
This company is still strong. Very, very strong. Despite short term dips, I’m with Piper Jaffray– AAPL will go up significantly within 12 months.
I’m making a very nice penny today. Glad I nibbled on some Apple stock yesterday.
My PREDICTION: We just saw the low point yesterday. From here it’s nothing but a (generally) steady climb…
“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!)
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!!!!
If you all would have bought 10,000 shares yesterday you all would have made nearly $30,000 today.
To bad none of you believed that Apple had stopped dropping….
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.
10, 000 ? WHO HAS 590.000 TO RISK ON STOCKS?
IF YOU HAD BOUGHT 10,000 SHARES AT $85, YOU WOULD HAVE LOST $250,000 ( QUARTER MILLION )
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.
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.
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.
I’m just glad I bought up a bunch of the $12.66 stock pre-split about 5 years ago.
Since 99, I’ve accumulated ≈9700 shares of Apple. Outside of my 401K this is 99% of my portfolio.
Against several folk’s suggestions (all eggs in 1 basket, etc.) I’ve stuck with and continue to stick with Apple. Not sold 1 share since 99.
Although the stock’s been a bit bearish of late, I’m still in a better position than I was in Oct of 2005 so I ain’t complaining and am optimistic about the future.
As I’ve said before, Cramer is a contrarian signal. Do the opposite of what he says.
Hey Hank, ya jackass, I made my prediction because it’s fun. Unfortunately, I don’t have any spare cash, so I couldn’t buy any yesterday, but I did email my accountant who I am friends with and told him to buy (YESTERDAY) so you can suck it. Also, If yesterday turns out to be the low point over the next two years, you can also suck it. I never claimed to be a stock expert, but I did buy most of my AAPL stock when it was $14 a few years back. (I missed the low by about $1) My total investment in AAPL has been around $9,000 and now it’s worth about $55K. I wish I would’ve sold and rebought when it hit the peak at 80something but I decided that I’m officially long on AAPL and am not doing the sell/buy thing anymore. And yeah, I like having fun making some predictions and trying to “feel it”.
There are risks with Apple as with any investment, but I know of no other company with such bright potential and great products. I can’t predict the shenanigans of Wall Street, so I do not try to play the short term market. After my April vacation in London, I will see how things stand. If Apple has dropped even more without good reason, I will have to consider shifting some other investments into AAPL. The opportunity for a bargain may be too great to pass up. But I will not sell AAPL for a few years at least. I do not want to miss a huge move up when it comes and I am convinced it will.