“I don’t think it’s a really good idea to sell Apple stock on September 9th,” Alex Cho writes for Seeking Alpha. “The idea of locking in quick capital gains from a tax standpoint isn’t a good idea. Secondly, investors should own Apple with the anticipation of earning respectable investment yields over a longer timeframe.”
“Day trading may be profitable for some, but day trading is reserved for those who have access to brokers that offer extremely low rates and great execution. The same day trader also pays for cutting edge news terminals from Bloomberg, paired with strategies for mitigating capital gains tax (like being domiciled in a different country [than the U.S.]),” Cho writes. “If these kinds of benefits aren’t made available to you, then you shouldn’t be timing the equity market, unless if you’re rebalancing your portfolio to meet your risk profile/investment objective.”
“After a 58.93% move from its 52-week low, it may sound prudent to start cutting back your position,” Cho writes. “But if you really think about it, the growth story, paired with the present valuation is still appealing.”
Read more in the full article here.
Should you sell your Apple stock on September 9th? – August 25, 2014