“When the market limped into the weekend after a dreary start to the new year, one of the biggest casualties was the computer hardware sector. Considering that the high-flying (AAPL: 177.64, -2.41, -1.3%) is one of its more prominent members, that is saying something,” Michael Kahn reports for Barrons.
“Apple has been the flagship tech stock for quite some time so let’s take a look at where it is today. Clearly, the long-term trend remains up here. Further, it has continued to forge higher highs and higher lows — the classic definition of a bullish trend — despite the sector and broad market’s inability to do the same,” Kahn reports.
“In other words, don’t bet against this winner just yet. What needs to be monitored is the waning of price momentum and increase in selling pressure over the past week because if Apple succumbs to the bear then the rest of the sector does not have a chance,” Kahn reports.
“With all facets of the technology sector, minus a few individual exceptions, sporting negative patterns or declining trends, investors should approach it with great skepticism. It is always a good idea to remain open to the possibility that a bottom is near but if tech is walking like a bear and growling like a bear then you know the rest,” Kahn reports.
Full article here.
ChrissyOne,
And lots of doobie.
My feeling: the stock dropping just before Steve’s next big announcement is corporate investors dumping their positions and lowering the price so they can jump in again and make another huge profit as the price runs up again. It’s not rocket science, it’s just Wall Street being Wall street. Let’s see where the stock gets to on Jan 15 or 16.
The analist will tell us of the disappointing projections for 08 and aapl will drop.
I’ve heard it said that in a recession/depression the best investments are liquor and entertainment. The absolute necessities of a consumer. I hope iPods can be added to that short list of necessities. Worst case, we’ll soon see a great buying opportunity for all those who believe in Apple long term..
ps: That whole argument about Apple wasting time on gadgets is hilarious. Yeah, that was a bad move.
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Whichever way the market goes, i’ll be regularly adding to my AAPL holdings. Sweeeeeeet!
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“The day he abandons his ego and arrogance is the day I’m selling my stock.” – C1
That is the only exception. Oh, and when Steve eventually retires or dies, whichever comes first.
@The Solution
If you think the iPhone is a toy, then you know nothing about the computer industry, where it’s been, or where it’s going. The iPhone is a computer, just like the Mac. In fact, it’s an extension of the Mac.
As for features, they simply don’t count. Only benefits count, and those are features that people actually want to use. The rest are just bloatware.
On Wall Street, the great majority of the time, the market manipulating firms are in control. They routinely skin the too clever by half retail pseudo- investors — actually speculators — who think that they can out guess the market. Only the very best of the retail traders make money day trading and many of those are now watching on the sidelines, as the current situation is far too dangerous.
At some point, usually after Apple has one or more absolute estimate busting blow out quarters, the manipulators get trampled by the bulls and AAPL advances to a much higher price and sets new a new historic high. We have had 19 straight quarterly reports with blow out results. Then the manipulators play their old skin the speculator game for another long stretch. Rinse and repeat.
I invest in the long term. I know that I would be skinned alive if I tried trading — speculating — on the short term behavior of AAPL. I’ve turned a five figure investment from years ago into a seven figure AAPL position. I rolled over all of my IRA and 401K holdings — mid six figures — into a self managed roll over IRA. That was in June before the US iPhone went on sale. Even with the current drop, I’ve made spectacular gains in that short time.
Do not get panicked out of your AAPL non margined, long term investment position by the Wall Street con men. And realize that most of the analysts and pundits are con men and or idiots.
Happy long term investing.
“Happy long term investing”
Happy education when you understand the dangers of concentrated positions.
To those of you that continually brag about your $13 or $30 or WTF ever price you paid for AAPL stock five years ago please understand that NO ONE GIVES A SHIT! Bragging on your five figure investment that has turned to six or seven figures is wasting everyone’s time and only flags you as a narcissistic A-hole! Kindly keep the discussion about the issues and not use this platform as a place to brag about your financial success. No one cares but you!