Taking Another Bite (Byte?) From the Apple (AAPL)


Apple Logo

Even though Steve Jobs looks to be ready to exercise some options, I think that Apple’s just hitting its stride with consumers and has a lot of upside.

For those of you that know my investing history… well, its time to sell. 😉

I felt like a major correction was coming, so I got out around $120 a while back for a tidy sum (ironically more than enough to pay for my new MacBook!). Since then the iPhone had strong customer acceptance, and the new iMac line looks fabulous. I started looking for an option to get back in under $120.

Well, today the opportunity presents itself. I picked up some at $113.37 and I am going to keep some cash on hand in case the correction lasts longer, and I can lower my average cost.

My plan is to hold either until my usual sell point of +20% or, more likely Q108 results. I think Mac is going to have a banner Christmas season this year! Not only that, but all the kids going off to school are buying Macs these days, as the Microsoft experience (Vista included) gets worse and worse…

So all that in the theme of full disclosure.

[August 17th – 8PM EST]

So two updates… first, I am happy with my very quick gains ($9 in 1.5 days) but not so much to cash out yet.

Second, its seems that RBC has the same opinion that I do. Check out their commentary and analysis on the stock from today: RBC Sees Strong Back-To-School Mac Sales; Finds “Sustained iPhone Momentum”

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2 Responses

  1. Perhaps one of the reasons for the $14 ramp in the last 3 days: http://blogs.business2.com/apple/2007/08/report-apple-si.html

  2. […] about 19 days since my recent blog about how I was going to buy back in to Apple after it dipped to $113, it now sits at $144 as of […]

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