There are several support lines. One is $525 or so. Another is $450 or so. The question is "which one will prove to be the floor?" A $450 floor would be a P/E nearing 6X (ex-cash). With EPS growth of 15% or so next year, that's a bit ridiculous. Even the current P/E is a bit ridiculous, but IMO, we have a combination of a couple of hedge funds being over levered in AAPL and forced out, tax gain sellers, and hedge funds capitalizing on these two phenomenon with massive short selling. That said, the shorts want their gains this year too and tax gain selling will wane. My bet is $525 is the floor, not $450, and the short covering will drive this back up towards $600 in the coming week or two, but certainly before year-end.
Bband: my bet is also support above 500 and I was buying last week.
Take a look at RIMM in early 2008.
A bear market and an inferior product didn't stop RIMM from making a new high.
OK, Samsung has a bigger display going for it.
If the market really wants a bigger display, I am sure Apple will give them one.
Frankly, i am still amazed by the battery life of my iPhone 5.
My Droid wouldn't last more than 2 hours.
Sentiment: Strong Buy
Do you think there's support at $475- $495 range ?
I sure don't hope that it was fall that low since I'm long AAPL, but wanted to prepare just in case.
What's the likelihood that it will go sub $500 ?
Don't watch CNBC for anything other than entertainment. The fact that the entertain through shoddy and manipulative investing advice is of questionable morality, but it's up to the viewers to make their take. Investing on CNBC is worse than shooting heroin straight to the dik.
hey 19, that CNBC is a scam, but people do listen to those moe's????
but CNBC is good for selling low and buying high. as far as apple, i'd just wait to see where things land, right now its a broken stock, have to wait for the bottom, jmo most people aren't used to a co. like apple acting funky, its hard for the retail guy to figure out whats going on, and the guys on CNBC, will not help you, you need access to a honest broker who has inside the street info, CNBC just gives you the fluff, jmo