Quote:
Originally posted by jyl
I cover AAPL for my firm. We started buying at $7 split-adjusted, and have made 10X. I am wrestling with holding on for more vs taking the profit. It is a tough call, made tougher by the difference between short-term and long-term. The company is doing great and has the chance to be a real leader in consumer electronics, but the valuation reflects that. At $80 it is not the kind of stock that I usually win on, so I'm looking for the "next AAPL".
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Yeah, I bought in the Winter of '82 or 83 and sold in the Summer. IIRC, it went from $10.XX to $62 in 6 months.
I've been in & out, but it's become much tougher since the institutions discovered it about 12-13 years ago.
Last Fall, I got in at $36 and sold at $52/54 -- don't recall exactly. To me $50 is an okay price to accumulate.
AAPL has always been an emotional buy to some players in the market, and right now, they're ignoring potential saturation of the $200+ player market; low margins on music sales and Apple's long history of snatching defeat from the jaws of victory. YMMV