Apple slides down: a buy in opportunity?

Posted Sep 17th 2008 5:05PM by Tobias Buckell
Filed under: Google (GOOG), Apple Inc (AAPL), Stocks to Buy

Usually, at the bottom of my posts I disclose that I own Apple Inc. (NASDAQ: AAPL) stock. Over the past couple years, it's been a nice fundamental stock with easy to read technical indicators that have allowed me to add to my retirement account.

But if you're using technicals to get in and out of a stock, you have to pay close attention to what is going on, and my attention was elsewhere during a recent project deadline. Behind my back, the stock dropped from the $170s to the $130s in the space of my busy single month.

My loss could well be your gain. Apple has leapt to a 10.6% market share in notebooks, and Piper Jaffray's Gene Munster expects Apple to show significant year-over-year sales gains with almost 3 million Macs and 11 million iPods. Recent customer surveys of people planning to buy a new computer have 34% interested in a Mac. But the recent general market, as well as fears about Google, Inc. (NASDAQ: GOOG)'s Android phone challenging the iPhone, have depressed the price. I've added to my portfolio at this price, as a result.

But don't take my word for it. Finance guru Jim Cramer also agrees that this recent drop in price makes Apple an attractive bargain:

Tags: aapl, android, apple, gene munster, GeneMunster, iphone, ipod, ipods, macintosh, piper jaffray, PiperJaffray

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Reader Comments (Page 1 of 1)

9-17-2008 @ 10:49PM

Legacy said...

Apple, I have it. Love it. Would probably marry it (or, at least let it get to 2nd base) if it were a person. Seriously. Bought 100 shares in March and it is still holding relatively steady after all the insanity. This is my favorite stock EVER!

9-18-2008 @ 12:57AM

quag said...

Oh, yes, let's all listen to Jim Cramer because his advice not to sell Bear Sterns was so totally solid:

http://www.thedailyshow.com/video/index.jhtml?videoId=164178&title=broken-arrow

I am not suggesting that you should (or shouldn't buy Apple), but the moment you call Cramer a "finance guru" you lose ALL credibility.

Seriously, watch the second half of the video referenced about and then see if you can really call him a "guru" with a straight face.

9-18-2008 @ 11:38AM

Beltway Greg said...

Margin calls: It's what's for breakfast. The market is contagious and everything is being tossed out of the window. I would wait at least a week until you do anything on any stock. So many people and institutions were so highly levered that they'll have to sell Grandma's shares in the utility company to cover their butts. Could anyone have foreseen Lehman and Merrill imploding in the past week? Russia is effectively closed for business. And yes even Beltway Greg sold his shares in Apple. (But not in the IRA though) I cannot stand to lose a dime. You've got to give Cramer and anyone else a break.
Read the disclaimer. This isn't stupidity, this is criminal. A six-sigma event? Try a ten-sigma event. Really this makes me weep for our country. So much malfeasance; misled by the best and brightest. Actually, my Berkshire is actually rising through this debacle so Warren wins again. And, if reports are correct, Merrill CEO/Undertaker John Thain walks with $40 Million dollars. So I guess he wins too.

Beltway Greg