So as a professional money manager, in today's markets when deciding what to do with fresh cash for tech exposure, would you be chasing GOOG, AMZN and CRM here? Or rather put money into AAPL? Risk vs reward question... honestly which would you rather see you money in AT THIS TIME?
When my financial planner got me in Apple before the all time high, I thought he was nuts due to the high price. I hadn't done any research to understand why the high price ($600). After doing the research I began to realize that Apple is reasonably priced. I am way upside down and wish that he had waited to buy after Apple had fallen out of favor with the market. Comparing Apple to Google it's easy to choose Apple at this level. Amazon is way overpriced and CRM may be as well.
At this exact point in time, I would put the cash into Apple. AMZN, GOOG and most others have made huge runs to the upside... P/E is too high and the risk is higher. On the contrary, AAPL is down between 40-50% from the high.. So, if I was a gambling man I would put it into Apple today... Sure it can go lower but so can Goog and Amzn... I just see more upside possibility in Apple at this time.
My point exactly. You have to believe there are momentum traders and HFT machines which will keep chasing a trade (including shorting AAPL) until it doesn't work. When the sentiment shifts, there's really no fundamental reason AAPL couldn't be at $600 within DAYS, and still cheaper than GOOG, CRM, PCLN, CMG, AMZN and a bunch of other mo-mo trades.