Stan,
Apple will indeed be a turnaround story of all tech stocks in '98.
The iMax will be in the market very soon and pre-orders have reached
100,000 units. Some experts have predicted Apple will sell 400,000
units by the end of current quarter. Therefore, the market share is
just beginning to pick up. I expect Apple will have about 5.5%-6%
market share from currently 4%. iMac is introducted at the right
moment especially prior to the preschool-opening season. I don't
believe there is much overlap between G3 machines and iMac since
they focus on different market arenas, one is in the consumer market,
the other is in business and professional market.
Based on last Friday's stock performance, Apple was still acting
pretty firmly. Some profit-taking and ex-option-expiration
side-effect pulled down the price a bit. In the final 20 minutes,
the price moved back to where they were in the beginning, which
strongly indicates that the options calls have been almost cleaned
up. The upward trend has been still intact since it didn't test
the last Thursday's lowest of $35.75. If we could break $37.25
tomorrow, then the stock will quickly move up to challenge yearly
high of $38.125 and probably will come as early as final hour trading
tomorrow or Tuesday. Well, IBM's quarter report will more or less
impact the tech stocks as a whole. The summer rally will continue
as the rest of stocks will also be moved up led by tech sector.
Cheers,
Phil |
