Last month I spoke about Apple Inc. The company had just released it’s earnings report which was according to the analyst was “OK”. In after hours trading on July 21st, the stock plummeted to $148 because of the dim guidance from Apple.
I said that the company’s future looked a lot brighter than they lead on to and that it might be a good time to take a hard look at Apple.
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For the next two weeks after the report Apple floated from $155-$166, but in the last week it has gone up about 10% where it now sits at $179. That’s a total gain of almost 20%. I don’t know about you but to me that’s a beautiful gain and the best is yet to come. Recently the analysts are saying that this stock will go above $200 in due time. If They’re right (I believe they are) and you do the math, you can still get at least another 10%.
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The Apple stores can’t even keep the iphones on the shelves and besides that there’s a waiting period if you want one. Their sales from the iphone 3G are on a tear and won’t be slowing down anytime soon. In the news today, China Unicom has announced that they are getting ready to spend $14.5 million to build out it’s high-speed 3G network. On top of that Best Buy said that they will begin offering the iphone in their stores by September 7th.
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Which ever way you try to slice it, I only see that Apple has nothing but good thing in their future. They’ve been doing what they said they would do. I’m glad to see the rise in the stock and look forward to where they’ll be by the end of the year.
Happy trading.

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