SPX down about 0.7% for the same period.
I think it was just overbought for a while. I’m curious to see how iphone 5 sales go past the initial bump. Samsung was really agressive with their GS3 adds during and right after the launch
I need a good tech stock to round out a portfolio I’m working on. Can’t bring myself to pull the trigger on anything. Everything seems so expensive, not just tech. Hard to enthusiastically enter a position at the moment.
I think the initial concerns about iPhone 5 sales are overblown and actually increased my position on weakness this morning at $626 since I still think AAPL is a great long-term hold. It’s exactly because the stock has sold off so much more relative to the index that it seemed like an intriguing opportunity that I still think will largely outperform the markets in the coming year. That said, there’s always this conversation in the market about how a company that’s trading at 12x cash earnings could be cheap anyway you cut it, but the other view is that with 70+ analysts covering the stock (therefore little opportunity to generate alpha) and potentially little reinvestment opportunities on the cash that could earn similar returns as AAPL’s higher-growth ventures, maybe it should be valued just the way it is. How do you guys think about AAPL? I mean, I guess as a long you’re really betting on AAPL being able to stave off market share erosion and eventually migrate more users to multiple devices and then onto the cloud, but that’s a longer term opportunity. Anyway, I still think it’s a great company to hold for the long-run but I don’t see it as either being a strong buy or sell at this point, especially since I don’t feel like I have any unique insights into the name.
Just curious to hear what the rest of you think, and whether any of you have pitched AAPL during investment committee meetings or interviews and the types of stuff people asked you about.
I don’t know how I’d pitch the company, but when people bring up this google maps garbage, just remind them of the enormous iphone 4 antenna gaff that was all the craze for a week after release until everyone just forgot about it and loved their phones. Furthermore, people like to say, “well it shows they’re slipping because steve jobs would have let this happen.” Steve Jobs would have been all about bringing hte maps back in house and under control as google was preventing them from having key features like voice nav. Either they’ll invest the cash to fix it (apple has plenty of cash) or someone will make an app. Problem solved.
i can’t pull the trigger on shorting this thing…though this company is not worth $600 billion…
[quote=“FrankArabia”]
.though this company is not worth $600 billion…
[/quote
To my knowledge, there is no rule against a $1T market cap company.
BS, Waze is a good app if you want voice on the 4.
I think AAPL is kind of a neutral. They have high recurring revenue, but the smart phone vertical will, in my opinion, be commoditized much like the PC was in the 90s. Don’t really have time to go into it a lot more, but I see some of the headwinds eroding growth over the next few years. Great company though, and if you think the market is getting ahead of itself than AAPL is about as quality as it gets.
iTV just wait. 1 trillion dollar company.
^ CT, my thoughts too.
ChickTikka, if you are worried that AAPL’s down 10% from the high, just let me know, I’ll put on a short position due in November and then it’s guaranteed to go to $700+ just long enough to shake me out.
its funny how something like “apple tv” can captivate the imagination to such a degree you would think the company would be worth another $400 billion.
aapl’s products from what I hear are great, but they’re basically needless gadgets that would fade in time as fanboys grow to be men and the innovation curve flattens…
and no, apple’s revenue is not strong and recurring…it happened a few times but lets not act like its indefinite…
now, please let the insults begin…
I’ve outlined my ideas on what Itv could mean for apple - complete integration into your life.whether or not they deliver on this remains to be seen. I agree, even as I type this on my iPad from my bed, that their two products are not necessarily going to make them grow revenue forever. But an apple tv that serves as my pc and runs my household opens up a whole new world of potential revenue streams. Don’t wanna go long apple rightt now? I dont blame you, but you can probably think about who to short once this thing heats up. Google and Apple will definitely kill a few major companies when this happens. It will be just as unthinkable as Nokia or Rimm going bankrupt would have been a few years ago. Someone is gonna get blindsided.
I’ve actually been considering shorting this thing, not long.
Yes I foresaw RIM getting into trouble about 2 years back but never imagined how swift the decline would have been…of course I was also not smart eough to short it either…
AAPL is certainly stronger than RIM but they’re brothers from a different father…