It has to be Danassa.. Now he has 21 IDs including mine.
Well, I just wonder with apple's balance sheet what it would take to get everyone to be bearish.. . It was a bargain at 700, it's a bargain at 385, it's a bargain at a 1000 by some metrics. It's impossible to price apple!
If the market sells off by 20 to 30%, I see apple going down 10 to 20% since strong fundamental stocks do better in down turns. I agree that the apple bashing is ludicrous.
good point. I was using closing prices to come up with 385. If you use intraday prices, 393 would be correct. Either way, it's close!
385 was a 50% retracement of the bull run since 2008.. 317 interesting is the 62% retracement. If 385 was to break down then I think you are right. Just don't see it happening. my back up plan is to buy Leap calls at 350 to leverage my shares if the worst case scenario does occur. Really doubt it......
Only negative I can find on apple is there are still more bulls than bears (at least on this message board).
Nice fills... You should do very well. Expect some volatility along the way, but the buybacks should smooth the ride.
Every quarter at the CC they will announce how many shares they retired. They plan to do an "accelerated" repurchase program. In other words they pay the banks a set amt per share now, and the banks retire a set number of shares over an agreed period. that locks in the share price for apple. If they chose not to retire any shares the shareholders would of course find out at the CC. Expect at least 10% of the 150 million shares to be repurchased by the end of Q3. The effective float right now is about 300M (640M are in mutual funds) so the effective float should go down to 285M by end of Q3. Also new income funds are likely to gobble up shares as well. We could be looking at only about 100M floating shares by end of 2014.
And I also have the guts to not hide behind 20 different Yahoo IDs...
This is a vote on whether you think it's bottomed. Feel free to say no and perhaps lose (or make) lots of money like the rest of us.. I wouldn't have bought over 1000 shares at 440 avg price if I didn't think apple was nearing a bottom. Obviously, it fell lower than anyone thought possible, but stocks always do. Question is, was 385 low enough?? How far beyond comprehension can the best company in the world fall.. I think 385 was at least a 20% overreaction to the margin compression. That's usually more than enough to weed out the weak longs and hedge funds.
Nice try.. I did call one at 440 after apple bounced from 420 to 480... The big difference is the buyback and apples willingness to take on debt. It's a game changer. P/E of 6 ex cash and willing to take on debt to effectively leverage that to a P/E of 4!
I'm an apple bull, but the iring seems very unapple like. I can see the TV being controlled by iwatches, iphones, ipads, etc but an iring makes Brian White look like he just woke up from an LSD overdose and dreamed the China vacation.... An iring seems impractical, could be lost easily, and wouldn't have any usable interface. Since the iring seems made up, I have to assume the rest is as well.
Agreed! The buyback and taking on debt makes apple a very strong buy. It's silly not to take on debt in this climate. I usually hate debt, but when the govt is printing money as fast as they can you have to do it even if you already have 150 billion in the bank. Apple should buyback as fast as they can while the shareprice is below 600.
Agree that some more bottoming action is likely. I'm optimistic that 390 will not be violated again, but seeing 400 rechallenged wouldn't shock me if the S&P corrects.