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Technology Stocks : Apple Inc.

AAPL 273.40

-0.1%

Dec 26 9:30 AM EST

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To: Alomex who wrote (13397)	5/12/1998 4:49:00 PM
From: Alomex	Read Replies (3) of 213177

Well folks, after a sleepless night I decided the Sunday before last to go long on Apple at $28. I played with several what-ifs scenarios and saw that there was little risk to the downside and potential returns of 20% over six months (my favourite type of play). Next day, I called my broker and lo and behold the price of the stock had gapped up $1 to $29. Rats! Second time this has happened (back in early 1997, I placed an order at $13 , but the stock had already moved back up). After spending a couple of hours reevaluating my decision given the new price, I bought shares at $29 1/16 (yup, First Bank of Alomex went long on Apple a week ago). I did not like the developments yesterday, but I did not sell as I felt I needed more information before making a decision. Yesterday I wrote: The stock price gave back a good chunk of it's earlier advances and I think it will gap down tomorrow morning. After thinking about it more, I still felt that was very much the case, so today I sold my shares at $30 5/8 at the opening. This gives 5% profits in a week after commissions. Not too bad... Will I buy shares in Apple again? Maybe. At this time things are too muddled after yesterday's WWDC. We need time to reflect on the announcements. I dislike the change in strategy, and the timeline bothers me even more. The mac needs a preemptive multitasking system yesterday not in Q3 1999! When was the last time Apple released a major upgrade of MacOS? In 1992(?) when system 7 came out. When is the next version due? In 1999. Rats! But the thing that bothered me the most was the lukewarm response from developers to Jobs. After the exciting announcements from last week this was a good a chance as any for the developer troops to be enthused... and they weren't. This bodes ill for future availability of Mac software.

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