Shares of Apple Inc. [AAPL] today gained $3.6601, or 2.73%, to set a new all-time closing high of $137.73 per share on volume of 32,351,941.
Apple’s previous 52-Week and All-Time High closing high was $134.0699 set yesterday. AAPL’s all-time intraday high was set today at $137.85.
Apple’s 52 Week Low stands at $50.16, set on July 14, 2006.
Apple’s market value currently stands at $119,129,288,040.
AAPL quote via NASDAQ here.
MacDailyNews Note: “I am putting a sell on Apple, the company that created the iPhone,” Laura Goldman, investment advisor, LSG Capital, May 21, 2007. AAPL closed at $111.98 that day.
Piper Jaffray makes a market for lots of companies, but how many of them have had the kind of stock appreciation, public adoration, or growing market clout Apple has? Apple has not increased in value so much because of Piper Jaffray pumping it: investors aren’t that stupid.
Apple has been introducing products the public loves, growing margins, accelerating earnings, taking business away from the PC world, and brilliantly marketing its products for the last few years. Piper Jaffray might be indirectly helping Apple with its marketing, but if Apple’s fundamentals started deteriorating, all the glowing recommendations by Piper Jaffray would mean nothing.
Piper Jaffray might have more of an incentive to analyze Apple, but as a result, it probably has a better understanding of Apple as a company, and how its stock behaves. It’s assessment of the stock’s potential might–though quite optimistic–be very realistic. Piper Jaffray was among the first investment companies to see Apple’s potential to reach into the 80s, then into the low 100s, then the low to mid 120s… In each case it was correct. Now it is estimating 160 to 165 based on its study of Apple’s various revenue streams and potential impact of the iPhone. Perhaps it knows something; perhaps it doesn’t. Perhaps it has a very good understanding of what the July 25th earnings announcement will bring. If earnings are spectacular–of which there’s a very good chance–and Apple issues positive forward guidance, there’s no reason the stock can’t reach 165. Perhaps it will, perhaps it won’t, but Piper Jaffray has been right so far, and among the first firm to project a stock price that other companies and people felt was overly optimistic.
In case you think I’m some deranged Apple fanboy, I maintain a realistic view of the stocks I hold: though I love Apple, and own a bunch of their products (and would NEVER buy a PC), I’m perfectly willing to short it should it the stock tumble.
“Apple has not increased in value so much because of Piper Jaffray pumping it: investors aren’t that stupid.”
Yet you can’t be stupid enough to believe that Piper Jaffray pumps the stock for some separate altruistic reason like they “believe” in the company.
They have a very strong vested interest in the value of Apple stock increasing, or at least convincing other people to buy or sell Apple stock. When things go against them, do you think they don’t talk up the stock?
Put it this way, would you take the advice of a used car salesman about how good the car he wants to sell you is?
Because make no mistake, when you place a buy or sell order for AAPL with your brokerage, sometimes it’ll go to Piper Jaffray.
I understand and acknowledge that. Of course Piper Jaffray profits from Apple’s rise, and of course they aren’t being altruistic when they review a stock. But if Apple fell, Piper Jaffray would also make money making a market for the sell orders, so it’s not as if they stand to gain only from a price rise.
Whatever the reason for their optimistic view of Apple, they’ve been correct thus far. And, again, anyone who listens to the analysts (whether from Piper Jaffray or another company), rather than doing their own research, is headed for trouble.
goooo AAPL
but, i sold all at 132 last week.
here is the dirty little secret about stocks: its all a paper gain until you realize it. remember that.
i bought AAPL twice: at 8.00 and at 17.00 and have cheered it on over the past 2 years.
there is no bigger mac fan boy than mois.
but apple is apple and AAPL is AAPL. i reached the amount that i wanted to have and sold it. sold it all.
now i will need to find something else to do with time i used to check the stock price every day. that is a small problem.
but the money is in the bank.
oh, one more thing: if any of you think that it will continue to go up and up, think again. as some have said: the large brokerage firms make the market, not what steve says on the podium. remembe that.
@ niji, Well done! a person who stands by their conviction!
Now spend some of that money to fix your shift button so that your i’s are I, also invest in a spell checker while you’re at it.
Any money left over just mail a money gram to me & I will convert it into the finest Camel’s Milk you’ve ever had. I will throw in a complimentary case of Camel’s Milk Cheese if your money gram is over three digits before the decimal point!!!!!
If the digits are in the five figures,……I will filter the Camel’s Milk with a special (registered trade mark filter I cannot mention) that will stop you blowing incredible hitherto unknown sounding farts!!!!!
“Apple addicts will gobble up every last iPhone that goes on sale this Friday at 6 pm. But will the iPhone dominate the telecom market the way the iPod has dominated the music market? I doubt it. Why? Because I believe consumers prefer ‘better’. A convergence product like the iPhone can only offer up ‘good enough’ ….the iPhone will not be a long-term success. What we will see instead is further divergence not convergence.” Laura Ries, June 2007
“I bought Laura Ries when she was high …not good.” anti-creative cretin, July 2007
camel’s milk:
http://www.camelgate.com/milk_products.php?language=0
Making outlandish claims about what might happen and what product might revolutionize the world (or might even get released) is something that MS supporters do at every press release.
Surface is the future!!! Is it now? You mean like Cairo was the future? Or tablet PCs? Or Origami? Or the iPod killers running PlaysForSure? Or the iPod killer that DIDN’T run PlaysForSure?
Apple tends to create a product and show you exactly what it does. I fail to see how this is ‘hype’.
Hype is short of hyperbole, which Wikipedia defines as “…a figure of speech in which statements are exaggerated. It may be used to evoke strong feelings or to create a strong impression, and is not meant to be taken literally.”
Hype is when Microsoft states (which they have) that “Zune Creates a Social Network”, which it in no way does.
The iPhone, by contrast, was shown in very simple adds, doing exactly what it does, and millions of customers currently agree, according to various polls (and my personal experience).
Analysts that understand Apple look at these products and gauge how many Apple will likely sell, and these numbers are most often lower than reality later proves. No estimate came anywhere near a million iPhones in a week. Not one. Other companies would kill for these numbers, but yet those same low-balling analysts are viewed as unrealistic cheerleaders and manipulators.
This is what has kept AAPL, if anything, artificially low for the last 4 years. Every earnings statement has caused a sell off (until this year) because most still felt that Apple had played its last ace, and the party soon was coming to and end.
And here, in this thread, the story continues, as desperate short-sellers and bored Windows enthusiasts unleash their tissue-tigers while those of us sitting on top of unprecedented gains just smile, one more time, and quietly add to our positions.
I have heard SpankTheMac’s message every quarter, after every product release and earnings statement, for years. And at no time before now has Apple been a better company or AAPL been a better stock. Never. Those of us that held on in the past did so because we Believed, but belief is no longer necessary. The fact is in your hand, in millions of hands, and it’s making history right before your eyes.
-c
MW: ‘quite’ (a lot)
@ ChrissyOne, That was a very somber posting! whats up? are you mellow? Simple adds get you incremental conclusions, simple but effective ads get you incredible market share!
Ps. Surface will end up creating a scarface at M$ as someone is bound to be mauled by their stock holders for it! As for the low-balling analysts…..see “Ball-mer/sillie” does that add up?
Chill sister!
@ niji,
Damn you! revealing trade secrets like that is akin to hitting below the belt!
Like the bit about making Camel’s Milk Cheese Camel! Imagine a whole Camel made of Cheese? the mind boggles!!! Just enough to stop one from farting!!!!
The next hypodermic needle has been loaded and is ready to be injected into AAPL’s botty to give it another boost! Check it out here…….
http://forums.appleinsider.com/showthread.php?s=&threadid=76518
“Piper Jaffray would also make money making a market for the sell orders, so it’s not as if they stand to gain only from a price rise”
But they LOOSE on whatever they’re holding.
“so it’s not as if they stand to gain only from a price rise.”
And it’s not as if they always give good news. Do you find that strange?
A company who makes money from price moves in a stock should not be trusted to always comment fairly on it’s prospects.
Loose = Lose. Ahem…
Of course all people involved in a financial scenario deserve scrutiny. But that does not mean all are guilty– though it may not seem so, there are people who work with integrity. I’ve been following what they’ve said about Apple for a long time. Whoever writes their public statements is Apple aware. A lot of investment houses are blatantly negligent in their ignorance, but because the mainstream generally is clueless, too, no one notices but us geeks.
I kinda’ wonder exactly what your point is, though you say a lot. Your basic point seems to be “people should think and be aware.” Well duh. Now what? Don’t you have some homework to do? You still need practice constructing relevant commentary.
Peterson, is that you?
Ladies and gentlemen:
Here is part of an email I received from an iPhone product specialist:
(my name redacted):I did get a response back from Engineering. They state they are investigating widespread cases of low audio output from the built-in speakers of the iPhone….
I hear recalls are a real bitch…Short now!
Spoke to an iPhone specialist on Fri – he said that Apple engineering is evaluating a widespread problem regarding the speaker output in iPhones. Recall anyone? Time to short AAPL!
“Your basic point seems to be “people should think and be aware.”
No my basic point is, in the financial arena, don’t trust the advice of somebody who stands to profit from you taking that advice.
e.g.
Don’t trust somebody handling the IPO for a company to analyze that company.
Don’t trust somebody handling a bond issue for a company to analyze that company.
Don’t trust somebody who makes a market in a company to analyze that company.
Don’t trust somebody touting for any merchant banking business from a company to analyze that company.
Don’t trust a financial advisor who makes his money from comissions on the products he sells you.
If they’ve built your trust, good for them. On the days they need to push you in the direction they want, they’ll be successful.
@ NoEndOfFoolishness
You’re right. We should trust anonymous postings on the interweb. Thank god you’re here to set us straight.
Apple makes like such cool products you know, that you’ve just got to buy the stock, because you know I really Love My Mac and My iPod yeah totally like it just keeps going up.
“Thank god you’re here to set us straight.”
Well if it makes sense to you to listen to the advice of somebody who makes their money when you buy and sell Apple stock, then there’s really not much more to say, except that I have a bridge for sale…
@ WeFoundTheGreaterFool
I didn’t listen to anyone’s advice to buy Apple. Actually, everyone told me to buy Dell when I first bought Apple in 2001. Compare the two charts to find the meaning behind the unique smirk I wear when people try to give me investment advice today.
I’d say you’re an idiot, but you’re not.
You are, however, a liar and a tool. Enjoy the rest of your dead thread.
-c