Apple Inc. (NASDAQ: AAPL) stock is falling this morning as speculators and even some investors were disappointed with CEO Steve Jobs' keynote address yesterday at the MacWorld conference. Jobs introduced the iTunes movie rental service as well as the MacBook Air laptop. He could not live up to the expectations he built after the introduction of the iPhone at last year's conference, as well as many of the iterations of the iPod which also debuted at MacWorld. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on AAPL.
After hitting a one-year low of $82.86 in February, the stock hit a one-year high of $202.96 in December. This morning, AAPL opened at $165.11. So far today the stock has hit a low of $160.68 and a high of $169.01. As of 10:35, AAPL is trading at $161.89, down $7.15 (-4.2%). The chart for AAPL looks bearish and steady, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.
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