“Apple investors might finally be appreciating exactly what this company is financially capable of,” Jim Goldman reports for CNBC.
“Apple shares soared to a new, 52-week high this morning, on the heels of fresh Mac sales estimates, warming rumors of a Mac tablet release date, ongoing speculation about accounting rule changes that could dramatically inflate the company’s top and bottomlines, and a new, $264 target from CNBC’s Jim Cramer,” Goldman reports. “Maybe, a big maybe, the skeptics are finally beginning to embrace just how compelling this story truly is?”
Goldman writes, “Facts are facts, fundamentals are fundamentals, and rallies are rallies. Apple won’t move in one direction forever, but it’s certainly moving in the right direction, and I don’t see anything on the horizon that derails the trends that got Apple here. And I am certain that that definitely has something to do with today’s big, Apple rally.”
Full article here.
I knew I should have bought that stock back in ’92. . . congrats, Apple.
It makes me nervous.
Mark Twain said, “Whenever you find yourself on the side of the majority, it’s time to pause and reflect.”
Might just need some stop losses (this time). The ride this year has been too much like an amusement attraction.
You can’t keep a good man down.
@Grigori: Best time would have been early 1997, right before the return of Steve Jobs, when everybody thought Apple was about to go out of business.
Hold on and grab your hats boys, we are going for a ride.
84 Mac Guy:
No girls?
And this is why one must have nerves of steel to play the stock market.
Imagine the feelings now, of all those people who bought Apple shares in Spring ’08, and then panicked and sold when Apple shares were at the bottom last year, early this year.
Be cool, my friends.
Buy low, sell high.
Repeat.
Having purchased several Apple computers over the years, I’m thinking of conducting a disgusting exercise. What if, instead of buying each of those computers, I had used the money to buy Apple stock and just held onto it? I’m guessing I won’t be happy with the results.
All except for the current one, which is the best ever, for me at least. MBP 13″. Not regretting this purchase.
I bought in early 98 when the first multi-color iMacs came out. The share price was $13 and they had about $11/share in cash. Been a nice ride!
@ Grigori
> I knew I should have bought that stock back in ’92. . . congrats, Apple.
Back in ’92? How just earlier THIS year when it was below $80?
Up almost $11 in the last three days… The AAPL mania has begun, it seems. All the typical investors who follow the analysts are now trying to get in on the action.
Just the start – tipping point?
Part of this advance is probably due to the AAPL shorters frantically buying AAPL to cover their shorts before they lose their shirts.
Do they really still let Cramer pontificate? After the SEC investigations, the melt-down on the Daily Show, the admission of manipulations, why wasn’t he run out of Wall Street (or even off CNBC) on a rail wearing a tar suit? He wasn’t banned?
“Angels and ministers of grace defend us!”
As recently as 2003 the price was $6-$7 (split adjusted). I missed the boat then, and several times since.
You guys that think you missed the boat–
Get on it now. AAPL will go up quite a bit between now and February. If it doesn’t, I’ll give you your money back.
the whole accounting thing amazes me, it’s common knowlede how apple accounts for iphones over 24 months. It’s like a stock split, changes nothing. Oh well, guess we are just ahead of the curve
@ bobo
> it’s common knowlede how apple accounts for iphones over 24 months. It’s like a stock split, changes nothing.
I may be “common knowledge” (as in publicly available), but I don’t think it is commonly known (or considered) knowledge for a lot of these so-called “analysts,” and therefore not known (or considered) by the typical investors who follow the analysts.
@ken1w: There is an enormous difference between buying this year when the share price was under $80 and buying a few years ago well below that number but especially prior to Apple’s MULTIPLE stock splits.
It is beautiful to see Apple receiving what it deserves, its been a long time coming
This could just be a pump up so that brokers can make money before dropping the stock again.
I’ll gladly accept I’m wrong and have the stock shoot up to $250.
What’s an acceptable P/E in this market? Apple’s at 30 assuming an EPS of 5.5. If the market is recalculating EPS based on the change in GAAP accounting maybe they are figuring the EPS is twice as high.
The next few months should be good news for Apple. I was at the Santa Clara store on Saturday and the store was bogging. They literally have 200 customers in there and still some people needing to queue for the iPhone.
Look at any other store and they had no more than 10 people in there.
@ Hg Wells
> There is an enormous difference between buying this year when the share price was under $80 and buying a few years ago well below that number but especially prior to Apple’s MULTIPLE stock splits.
I’m just saying, there have been MANY good and even great opportunities to buy AAPL since 1992, including just earlier this year. Doubling your investment in six months is at least as good as a long-term 10x or even 20x increase over many years. Right now would not be one of the “good/great” opportunities, since it seems “everyone” now wants to own some AAPL. Now is the time to hold and decide the best time to sell at least some of the shares to “realize” the profit.
@ DogGone
> What’s an acceptable P/E in this market?
Instead of this big deal over accounting practices (which is just playing with the numbers), investors and analysts should account for the fact that about $40 of the current $175 stock price is Apple’s CASH-in-the-bank. If Apple gave all of their current cash back to shareholders, they would receive about $40 per share. So Apple’s ongoing business (and future potential) should really be accessed with the share price at $135, not $175.