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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: WebDrone who wrote (13163)	5/8/1998 9:01:00 AM
From: soup	Respond to of 213177

Redacted Response to Private Post. >I really like the way this iMac is looking. I'm having trouble sifting through all the bitching on the thread about the "floppy drive", etc. It all seem like an overreaction, based on too little information to me.< Private Poster; I like it too. It think institutions will order them in big chunks and the ISs will love that it doesn't have a floppy so that individuals can't screw things up, add viruses, do unauthorized back ups, etc. I also think that USB devices and simple IR PDAs (capable of backing up floppy size files) will be available for about the cost of a zip. I also think the iMac is cute/sleek enough that they will be featured in a lot of front office/customer point of contact stations. >I just wanted to know if you could take a couple of minutes to let me know how you think this deal is shaping up. We've both been waiting a long time for this, and I'm starting to feel this non-localized excitement building at the base of my spine.< Hold onto that feeling and wait for the 11th. >If I'm overreacting, then give me a good slap in the face and bring me down to Earth.< Overreact all you want. This is good stuff. The critical thing is what you do about it re: AAPL stock or options. Personally, I've got two plays. One is a sizable position of AAPL 1/99 $20 LEAPS which I accumulated at around $4 ($16 stock price). They're pretty deep in the money now, (little time value left) so they're basically equity substitutes. I expect to hold them till 1/99 (?) when I'll likely sell 50% (?) and use the proceeds to exercise the remaining options. I intend to hold the stock indefinitely. Second, which I posted on this SI thread, is a position in 5/98 $27 1/2 CALLS which I acquired (for $1 5/8) as soon as I heard of the 5/11 event. I expect to sell them in the days after Jobs' presentation. My biggest worry (as with any short-term strategy) is that an overall market meltdown will screw that up. IMO, AAPL would be at least a point higher with a favorable tailwind. Which means my options would be $3 1/2 - $4 vs. $2 1/2 - $3. On the other hand, I don't think a 15-20% market decline will screw up my LEAP strategy too badly. >If I'm overreacting, then give me a good slap in the face and bring me down to Earth.< Can't help you. I'm very bullish short-term (Jobs's speech); mid-term (analyst upgrade, continued good press over next 6 months); and long term (still very undervalued P/S, gathering earnings momentum, strong diversified product pipeline, low cost structure). soup