In what seems like an event that's more like the Academy Awards, Apple Inc. (NASDAQ: AAPL) CEO Steve Jobs will take center stage at San Francisco's Moscone Center on Monday to announce something. That "something," if you've been paying attention to tech news over the last month in any corner of the globe, will be the second version of the iPhone.Expect Apple's stock activity and message board nuttiness to be in overdrive until a few minutes before Jobs give his messiah-like speech about something. You see, the religious love affair much of the media (and diehard Apple fans) have with the company and Jobs himself will create so much buzz that it would not be surprising to see Apple shares top $200 easily and maybe go beyond their 52-week high. That high will come just as Jobs lets the word drop on the next iPhone.
As Timothy Sykes reminds you, don't consider this a prime opportunity to buy Apple. Although, sitting at $190 before the market opens this morning may tempt you, what do you gain with a rise to $200 per share? 5%? If that's good for you in a day or two -- if it happens -- more power to you.
There are some who time their Apple profits on the two meetings or so per year that happen from Apple's top guy (known as Steve-o), but an investing strategy for the long term and a frenzied quest for an extremely short-term gain are two totally different things. I'll be watching with interest this Monday, but still won't have added Apple shares to my stable.
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Reader Comments (Page 1 of 1)
6-06-2008 @ 3:47PM
kellyl said...
Just curious if you bought Apple a few months ago at $120? Lots of hype there, and I made a ton of $$$$$. long live hype.
6-06-2008 @ 7:16PM
George H said...
I guess Tim (and Brian) want to sound different to other stock bloggers and say "don't buy"..
I am the same Kelly.. I bought shares when there was so much hype about the iPhone and when it even did not exist (was purely rumours).. and look where the shares are now!!
Don't add apple shares to your 'stable' Brian... It's so bad making extra $.
It won't be long when the iPhone becomes the next gadget (after the iPod) everyone carries around wherever you go in the world.
If not for Apple innovation, all the other mobile companies will still be selling crappy phones.
I just wanna remind you how SONY dominated the audio market before the iPod.. and look where they are now!
Good luck. And yes, I am a die-hard Apple fan.. and proud of it!
6-07-2008 @ 12:36AM
Beltway Greg said...
Beltway Greg is cautious near-term; I think we'll see
$196 and we probably won't break $200 this go around. But.....the numbers are going to explode this fall. I cannot believe what happened the last couple of months. Thank you sellers. If was last year all over again only in a compressed time frame. Computers have become a necessary appliance, yes appliance, in the American household and the macs are the best of breed. And, Apple now has enough foreign exposure to mollify any domestic weakness. (As if there's going to be any.) One disclaimer though, if the IPhone has a video chat feature stand-by devil dogs: we could could see $210 by July. From the next earnings report until the beginning of Sept. I think the stock will trend lower perhaps $175.00. However, massive macro dislocation notwithstanding, the party starts then. Also, at $20/share Citi has become your bond for the future. Buy a couple of thousand shares and check back in 2-3 years.
Beltway Greg