I’m Going Down with the Ship!

I can’t stand to see AAPL at $90 and not buy some more!  What sucks is my average cost is now still ~$125, but I think as a longer term investment that is just fine!

I am buying AAPL stock on a schedule right now, since I have about 0% chance of picking the market bottom (as my previous 2 purchases have adequately demonstrated) and I am going to pick up some more shares near the end of next week, which should be close to the expected announcements about earnings, and a refresh of their high-end laptop line.

If AAPL shows results that indicate that it is somewhat immune to the downturn, and gives confidence for Q4, we could see quite an uptick in the stock.  If not… I still think at these prices it is still a buy (obviously, since I did)!

Also worthy of note, while Canadians are notoriously cheap about buying cell phones, I have not seen such a quick market penetration of a phone in our market as I have with the iPhone!  The RAZR by Motorola was pretty close, but it was a cheaper phone when bundled with a plan, and had no incremental recurring revenue from data or an application store.  I can’t believe the people I am seeing with this phone: young, old, wealthy, no-so-much, educated, not-so-much!!  I even ran into a recently-homeless guy who said he had, until recently, had one until it was smashed in a fight with some ‘crack-heads’.

Oct 10th: It looks like my timing might have been good for a change, this is dricing the stock up 9% so far today: Apple Announces Laptop Event Next Tuesday


6 Responses

  1. Did you not invest in Nortel that same way? 🙂

  2. No worries. I have done the double down on dragonwave twice in the past 3 months. Once at $6 and again at $3.50… now it is trading under $2.

  3. I increased my position again by +25% shares at $93.65. While the stock value is down from my average, the value of the USD has risen by 15% since I started buying, so at least some of my loss is offset.

  4. Oh, and check out this tripe: http://www.forbes.com/feeds/ap/2008/10/15/ap5559664.html

    MSFT’s PR firm (they aren’t even brave enough to put their own name behind it) claim that Mac resale is lower on laptops, and there is a $1000 software tax for all the extra stuff that Mac users have to buy when they switch.

    Absolute garbage, I spent almost nothing ($100?) to get up and running.

    If you agree… jump in on this thread: http://finance.google.com/group/google.finance.22144/browse_thread/thread/d95549b2da0c30c9#

  5. http://www.bloomberg.com/apps/news?pid=20601087&sid=a.P9BC9mJzaU&refer=home

    Oh, please, please, please!!!

    Buy back $10 Billion AAPL, your stock is better than cash now anyway!

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