it tried today. it went to 157 then to 165 but completely sold off once again.
apple is a stock whose participants are afraid to be the last one holding the bubble that this is.
i think apple will fall to $130 similarly to First solars percentage drop. after $135 you may get a bounce to $140 or $145. But ultimately by March im expecting this to be $100 or sub $100.
looking further down the road i expect apple to post as little a $1 in earnings in 2009 in any slowdown. i think longer term apple could completely retrace to its $20 lows or so.
AVOID. im sure apple will eventually bounce but at what cost? at the cost of good people buy a lower priced bubble? that makes no sense. ignore any bounce and continue selling anything you own or anything that holds apple in your estate or family accounts.
If you are refering to me, I didn't say AAPL would go to the 20's. I said that IF it were priced as low a Microsoft I would consider buying it.
I own NO long positions and have NO intention of doing so for quite some time.
It would take a great deal of discounting to get me to go long on a stock like APPLE in these market conditions.
Just like it will take a great deal of discounting before I buy another house.
Don't read too much into it.
Apple is one of the few stocks worth holding these days. Why would you want to short change the premier technology company in the world? - it doesn't make sense. The year is young and Apple still has additional good news down the road. And Apple has the most loyal customer base around. A year from now you will be sorry if you've sold your Apple stock.
You have no idea what can happen while you HOLD for a year. Let's say AAPL has a tough year and Jobs decides to "retire"... What's the value of everyone's premiere tech stock once the head retires?
believe it or not sheezy is actually doing you a favor, if you can humble yourself and SELL...perhaps we get a Fed bounce, but that will be met with RELENTLESS DESPERATE SELLING
after all...isn't that the only thing everyone is waiting for, to sell?