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Technology Stocks : Apple Inc.

AAPL 273.80

+0.2%

Dec 29 3:59 PM EST

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To: Moominoid who wrote (16491)	8/12/1998 7:23:00 AM
From: soup	Read Replies (2) of 213177

Think IBM. David (and other traders); Don't outsmart yourselves. As one who believes that technicals take a distant back seat to fundamentals, I think you're best advised to take AAPL at/around $40 as a gift from a higher power. What's different is that AAPL/Jobs has scaled the last rung in the "Hierarchy of Skepticism" with the 150k of iMac preorders -- ie; we now have the revenue growth the Street has been moaning about. Analysts who've been holding that up will either revise or drop coverage. Period. What's really different is Fidelity's disclosure of its 12% (!) stake. Though its reputation has been somewhat tarnished from management turnover, this is still the 800 pound gorilla. It's like the school bully backing up the class nerd saying "Anyone who messes with him, messes with me." The effect of the announcement after Monday's close (combined with the iMac numbers) put the fear of God into the shorts. I'm talking Old Testament. [IMO, the bulk of 15.7 mil. shares purchased above $40 were brief-soilers. Their belief in a merciful-and-forgiving diety was affirmed when Asia-melt kept the exit cost below $45.] >Maybe I'm an antihero but I'd think one or two more days of smaller gains is possible. After that down.< Nightly Business Report said Gerard-Klauer just upped their target on AAPL from $40 to $50. Sounds right to me (short-term). I don't think we'll see any substantive retracing till the high 40s. Better, think IBM when Fidelity accumulated a similar position in 1993 at $40-60 (split adjusted $20-30). quote.yahoo.com If this chart doesn't give you a woodie, I don't know what will. Bottom Line: Stuff as many nuts as your jowls will hold and hibernate.

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