Someone sent me an e-mail last week about AAPL potentially being the stock to watch for 1998. In doing some DD, it had appeared to me that AAPL was a long shot at best for stock to watch for 1998. Last two years with substantial losses and turnover in CEO, but the fact that Jobs was back in control provided some hope. I noticed the stock as high as $30-something last year following summer exposure. This is typical for stock movement-after people get excited from a conference or something, they buy. And then reality sets in and stocks drift back down if more excitement doesn't follow.
Yesterday, there was a conference at MacWorld and that alone would have caused the stock to rise somwhat, but the fact that AAPL has made a profit for the first time in over a year is SUBSTANTIAL. It remains to be seen what happens going forward, buy if Jobs will stay on through the year, many may start to believe he'd stay on permanently, and also may expect similar results to Q1.
Beating the street by over 600% should boost this stock easily. Last year there were no profits at all, and the stock saw a high of $30-something.
Oh, one last thing. At least one analyst had 12-month conservative target of $25, with the expected eps of about .20 for the year. Now that AAPL could do at least .60 for the year(.40 higher than expected this quarter), I wander where that projected price will rise to.
Miller |
