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The recent price drop in Apple may be due to tax selling but I contend the drop is due, primarily, to two factors: 1.) Apple is having problems getting a CEO and 2.) Apple will show a disappointing Christmas quarter. Before this quarter started, it was obvious, Apple could not introduce new machines, get them to stores, promote them and expect a successful quarter let alone make money. As they say: "too little, too late." I'm amused that Apple die-hards expect Apple to be profitable due to Apple die-hards buying the new machines. Many years ago Studebaker Motors urged its stockholders to buy the Studebaker and urged them to get their friends to buy on as it drove itself into oblivion. My bones tell me that this is what Apple is going to do. If this occurs then sell, sell and sell. I had sold Apple when it spiked but reading the hyperbole by Apple die-hards, recently, I bought at 17-18. I hope it works out. I never thought Jobs is the right man for this job and I still think that way. Only in America can someone, presumably, become a millionaire by running a company that doesn't make money. We've been in a bull market since 1982 and if the bull market should end tomorrow, what would Apple shares be worth? Less than $5. This is from someone who hopes he is wrong! |
