So I sold my Apple shares in AH and gave Scottrade another $7 commission.
First the over all market is shaky right now as we enter September. Syria looks nasty though it might be a short term problem. Then we have the Fed possibly tightening in September, though I think that will be pushed off until December. Then we have the D.C. battle coming up in late September/October over the budget and extending the federal deficit. Republican might just play hard ball this time and shut government down. Add up all this and throw in some unforeseen world problems and my gut tells me a major correction could be coming. And if one does, make no double Apple will get hit hard and possibly fall to a new 52 week low.
Secondly regarding Apple, I'm starting to think Cook might lay an egg on September 10 with a not so interesting iPhone upgrade and a not so enthusiastic iPhone lite or (c). We already know two iPhones are coming in two weeks so the news is baked into the current price of $490. But if that's all Cook presents and the two iPhones are not "home runs" then Apple stock could get hammered. Cook and Apple executives have stated that the majority of new Apple products won't see the light of day until 2014. And today strong rumors came out that Apple iWatch would be fully developed until late 2014. So Apple again (after Sept,. 10) drags its feet, stalls and might hint at another stock buy back.
In any case the stock is now languishing and seems to be selling off at the end of each trading day. I'm on the sidelines now since the stock could hold over $500 and now appears to hit lower lows as we approach September 10.
your concerns are quite valid. Why do you think that Cook, other execs and board members have been dumping their stock like there is not tomorrow? Also why do you think ICahn is pressing so hard for an increased buy back? He knows no revenue drivers are forthcoming. Refreshed iPhones, a cheap iPhone, and refreshed Mac's are not going to cut it. Even China Mobile is priced in at this point.
Why do you and other pseudo-shorts cite, "insiders selling" as a reason to be bearish? There are a multitude of reasons why insiders sell. "Oh no, this stock is a POS" is not the reason here. Your doom and gloom only works on the weak-minded. Fortunately for you, a lot of weak-minded people frequent this board.
The disease is spreading from short to short. Shorts hope that the disease will spread to us "bagholders". How clever to add more stupidity. Insider sells mean nothing. Icahn is pressing for a larger buyback because he knows that even without any other change (including PE) the stock would be $700. Icahn wants at least a double. You forgot $150 oil and war though.
There are so many different kinds of stupidity, and cleverness is one of the worst. Because cleverness can create fear, and fear is a communicable disease that comes out in the sweat and passes from host to host. Fear is an incendiary agent; it combusts with stupidity.
p2ialias - what you smoking tonight??? You post make no sense, much less deserves to be posted on this board. Even Cramer is telling everyone to run for the hills and Cramer even falls into your (sic) categorization of "stupid". Regarding first post - Carl I news is fading fast and Apple is so far behind in new products that Cook might be gone before the iTV and iWatch ever hit the market. And let's not forget - everytime Cook does a song and dance presentation he falls flat on his face and Apple stock drops the next day. So don't buy Apple for September 10. Buy it for late 2014 - 2015 because you will have to wait that long to see the stock move higher.