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Apple stock hits $700 for first time in after-market trading

post #1 of 59
Thread Starter 
Prices for Apple stock hit an all-time high in after-market trading on Monday, topping out at $700 after flirting with the record-breaking number since the company announced huge sales of its new iPhone 5.



After announcing its new smartphone hauled in over 2 million pre-orders in its first 24 hours of availability, AAPL prices briefly jumped past the $700 barrier on Monday, a mark the stock has been pushing toward since the company's strong third quarter earnings call in July.

When the final sales numbers are tallied, Piper Jaffray analyst Gene Munster believes Apple will move some eight million iPhone 5 handsets in its first weekend of sales, doubling the results from last year's iPhone 4S launch. Munster notes that the iPhone 5 could see an unprecedented 10 million unit sales by the end of the quarter.

In the fastest-ever launch for any Apple product, the iPhone 5 is slated to go on this Friday in nine countries, with U.S. customers able to buy the device at brick-and-mortar Apple Stores, wireless carriers AT&T, Sprint, and Verizon wireless as well as certain Best Buy, RadioShack, Target and Walmart Stores. The unit is slated to see release in 22 additional countries on Sept. 28, and will be available in 100 countries by December.

As of this writing, Apple stock is hovering just below the $700 mark at $699.78 with a market capitalization of $656 billion.
post #2 of 59
Nice little late day bump there...
Progress is a comfortable disease
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Progress is a comfortable disease
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post #3 of 59

Nine years ago, the stock was $7 a share.

 
NINE YEARS. A thousand shares then and you'd be 7/10ths of the way to being a millionaire, just SITTING on them. 
 
Has any company in the history of the world ever done this?

Originally posted by Relic

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Originally posted by Relic

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post #4 of 59
Better location for AAPL after hours stock info: http://www.nasdaq.com/symbol/aapl/after-hours
Edited by SpamSandwich - 9/17/12 at 1:24pm

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post #5 of 59
Quote:
Originally Posted by Tallest Skil View Post

Nine years ago, the stock was $7 a share.

 
NINE YEARS. A thousand shares then and you'd be 7/10ths of the way to being a millionaire, just SITTING on them. 
 
Has any company in the history of the world ever done this?

My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.

 

Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management :)

post #6 of 59
Quote:
Originally Posted by Soundvision View Post

My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.

 

Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management :)

 

Only wish I had gone by my instincts and ONLY purchased AAPL when I bought my first stocks. There is nothing in my very broad portfolio that has performed as well, or as consistently.

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post #7 of 59
"Apple stock hits $700 for first time"

When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 during trading today. The highest it got was $699.80.

It's over $700 in after-hours trading, however. But that doesn't count ;-)
post #8 of 59
Originally Posted by cherrypop View Post
When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 today. The highest it got was $699.80.

 

After hours. I'll see if I can drum up another one.

 

Originally posted by Relic

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Originally posted by Relic

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post #9 of 59
Quote:
Originally Posted by Soundvision View Post

Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management :)

I just spare myself that conversation. When I consolidated my 401ks into a Roth IRA about 12-18 months ago, I decided to just move it all into Apple stock. In that time, I've doubled the size of the asset. Meanwhile, my other investments are happy to give me 5-8%. Anyone telling me to change this approach needs to give me a real alternative. The sound of that advice is deafening.

post #10 of 59
At 2 minutes past 4 it touched $700.22
post #11 of 59
Quote:
Originally Posted by cherrypop View Post

"Apple stock hits $700 for first time"
When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 during trading today. The highest it got was $699.80.
It's over $700 in after-hours trading, however. But that doesn't count ;-)

 

Here:  http://www.nasdaq.com/symbol/aapl/after-hours

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post #12 of 59
I had Apple stock in the late '90's, where I made some good money. Was out of the market after late 2000. I came back in late 2003. In mid 2004, I bought Apple at $16.93. I've kept it ever since, and bought more at about $80 during the recession. I can't argue with this as an investment, and the new dividends, which should increase by at least 25% next year, has been a nice gift.

This started out as about 10% of my portfolio, but has moved to dominate it. I'm certainly long, as I won't trade it.
post #13 of 59
Quote:
Originally Posted by Wings View Post

At 2 minutes past 4 it touched $700.22

Hit $ 700.44 at 16:01:49 PM.

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post #14 of 59
Quote:
Originally Posted by melgross View Post

I had Apple stock in the late '90's, where I made some good money. Was out of the market after late 2000. I came back in late 2003. In mid 2004, I bought Apple at $16.93. I've kept it ever since, and bought more at about $80 during the recession. I can't argue with this as an investment, and the new dividends, which should increase by at least 25% next year, has been a nice gift.
This started out as about 10% of my portfolio, but has moved to dominate it. I'm certainly long, as I won't trade it.

 

You and I both jumped at the opportunity the recession lows presented. Got mine at $85 and frankly, it was one of the most terrifying rides of my life. "Buy low, sell high" is a great guideline for jumping on a good deal, but when it looked like the "end of the world" I was sweating bullets.

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post #15 of 59

Job well done Apple! I own Apple shares, too. I am happy. I hope Apple gets to $1000 this year. ohhhhhhhhhhhhh yeah

post #16 of 59
Quote:
Originally Posted by SpamSandwich View Post

You and I both jumped at the opportunity the recession lows presented. Got mine at $85 and frankly, it was one of the most terrifying rides of my life. "Buy low, sell high" is a great guideline for jumping on a good deal, but when it looked like the "end of the world" I was sweating bullets.

My wife is very conservative. She thinks that all investments in stocks are gambling. It took a while to convince her that Apple was a sure thing when it was at $78, or I would have bought more then, instead of a couple of bucks more. But, I'm not arguing!

I've got a couple of friends who asked me to advise them on whether to invest in Apple or not. Unfortunately, both have managed accounts, something I abhor. This was back when Apple was at about $300. Both said that the managers thought it was a great idea, and would buy in when Apple dropped back a bit. Neither has any Apple today. A lesson to be learned for neophyte investors.
post #17 of 59

I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...

My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook?? 

post #18 of 59
Quote:
Originally Posted by bill42 View Post

I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...

My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook?? 

 

I have no major concerns about Apple over the next 5 years or so, but I am very concerned about the possibility of another market crash and swing deeper into recession for the economy in 2013. Although the majority of them were wrong prior to the 2008 crash, many economists say we are headed for more trouble. Also, demographics being an unavoidable trend, I fully expect deflation to wreak havoc on worldwide markets over the next 15-20 years. We are lurching into a shift in the Western world's population that will affect everyone.

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post #19 of 59
Quote:
Originally Posted by melgross View Post


My wife is very conservative. She thinks that all investments in stocks are gambling. It took a while to convince her that Apple was a sure thing when it was at $78, or I would have bought more then, instead of a couple of bucks more. But, I'm not arguing!
I've got a couple of friends who asked me to advise them on whether to invest in Apple or not. Unfortunately, both have managed accounts, something I abhor. This was back when Apple was at about $300. Both said that the managers thought it was a great idea, and would buy in when Apple dropped back a bit. Neither has any Apple today. A lesson to be learned for neophyte investors.


Back when Steve got sick in early 2008 and the stock fell to the high 70's or low 80's I wanted to buy some but I was dirt poor at the time because I spent all my money moving to Houston to start my first job out of college and my company had yet reimburse me. I still haven't bought any because I keep thinking "it can't go much higher."

As always I'm an idiot

post #20 of 59
Quote:
Originally Posted by SpamSandwich View Post

 

Only wish I had gone by my instincts and ONLY purchased AAPL when I bought my first stocks. There is nothing in my very broad portfolio that has performed as well, or as consistently.

I purchased my first shares of Apple at the beginning of my college career, around 2004/2005 I believe. I purchased right before the first split.

 

I've bought back in quite a few times over the years, including last year when it hit around 360 or so. I still have all my shares and plan on holding onto them for the near future. Being involved in Apple sales the past decade, I can easily see that Apple is on fire and it's not a fad as some people say.

 

People are genuinely happy with their Apple products and will continue to buy them. I have no idea how high Apple will go, but I don't see it slowing down anytime soon. Mac sales are on the rise, iPad sales are on the rise, iPhone sales are on the rise. With the new iPad coming out next month, they are going to dominate the holiday seasons.


I'm curious to see what other products Apple comes out with. With Siri and Maps now, I could easily see Apple making a car interface much like Microsoft and selling it to the car companies.

 

Sky is the limit for this company, certainly exciting times.

post #21 of 59
No company has performed more consistently OR been labeled "doomed" more often.
post #22 of 59
Quote:
Originally Posted by bill42 View Post

I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...

My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook?? 

 

Facebook? I wouldn't touch that stock with a dead raccoon. If you need to diversify, buy the best performers in a variety of stock sectors. I refuse to give out specific stock advice because there are a million ways to approach investing, but the only "right" approach is the one you develop for yourself over time.

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post #23 of 59
Quote:
Originally Posted by Soundvision View Post

I purchased my first shares of Apple at the beginning of my college career, around 2004/2005 I believe. I purchased right before the first split.

 

I've bought back in quite a few times over the years, including last year when it hit around 360 or so. I still have all my shares and plan on holding onto them for the near future. Being involved in Apple sales the past decade, I can easily see that Apple is on fire and it's not a fad as some people say.

 

People are genuinely happy with their Apple products and will continue to buy them. I have no idea how high Apple will go, but I don't see it slowing down anytime soon. Mac sales are on the rise, iPad sales are on the rise, iPhone sales are on the rise. With the new iPad coming out next month, they are going to dominate the holiday seasons.


I'm curious to see what other products Apple comes out with. With Siri and Maps now, I could easily see Apple making a car interface much like Microsoft and selling it to the car companies.

 

Sky is the limit for this company, certainly exciting times.

 

If your barber starts asking for AAPL buy and sell advice, approach with caution. I don't believe there is an AAPL bubble (as a matter of fact, I think it is still terribly undervalued), but that does not mean a bubble cannot build around the stock.

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post #24 of 59
Quote:
Originally Posted by SpamSandwich View Post

 

I have no major concerns about Apple over the next 5 years or so, but I am very concerned about the possibility of another market crash and swing deeper into recession for the economy in 2013. Although the majority of them were wrong prior to the 2008 crash, many economists say we are headed for more trouble. Also, demographics being an unavoidable trend, I fully expect deflation to wreak havoc on worldwide markets over the next 15-20 years. We are lurching into a shift in the Western world's population that will affect everyone.

Those types of predictions, IMHO, are worth the paper they're written on. Certainly not something I worry about in the least.

 

Also, I would imagine that much of the predictable impact of demographics in the West is probably incorporated into prices. Aging in the West will be counterbalanced by the emergence of India, Brazil, Russia, South Africa, etc (although not China, which has a rapidly aging population thanks to its one-child policies).

 

That said, it is probably fair to expect much lower returns on AAPL going forward. Even getting to $1000 in say, 3 years, implies a compounded annual return of just 12%. Compare that to the roughly 800% gain since Jan 2007 (which is when I got into the stock in a big way; my moment of epiphany was the iPhone intro!), or the approximate doubling, since Tim Cook took over as CEO a year ago. Those sorts of returns are history.

post #25 of 59
Quote:
Originally Posted by Tallest Skil View Post

Nine years ago, the stock was $7 a share.

 
NINE YEARS. A thousand shares then and you'd be 7/10ths of the way to being a millionaire, just SITTING on them. 
 
Has any company in the history of the world ever done this?

If I remember correctly, there was a split that you didn't account for. So, the 1,000 shares I sold at $27 would be worth $1.4 million. Cry me a river.

post #26 of 59
Quote:
Originally Posted by anantksundaram View Post

Those types of predictions, IMHO, are worth the paper they're written on. Certainly not something I worry about in the least.

 

Also, I would imagine that much of the predictable impact of demographics in the West is probably incorporated into prices. Aging in the West will be counterbalanced by the emergence of India, Brazil, Russia, South Africa, etc (although not China, which has a rapidly aging population thanks to its one-child policies).

 

That said, it is probably fair to expect much lower returns on AAPL going forward. Even getting to $1000 in say, 3 years, implies a compounded annual return of just 12%. Compare that to the roughly 800% gain since Jan 2007 (which is when I got into the stock in a big way; my moment of epiphany was the iPhone intro!), or the approximate doubling, since Tim Cook took over as CEO a year ago. Those sorts of returns are history.

 

The iPad chases after the aging demographic as well as the youth demo, so I think there is plenty of rapid growth left in that product. The iPhone has lots of competition, but few real "competitors" (if you know what I mean)... iPhone will continue to grow and I'm thinking they will have another category of product they'll bring out soon that will broaden the perception of what Apple is all about in the near future (1 to 2 years).

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post #27 of 59

Daily Neowin Nonsense:

 

 

 

 

br0adband

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Posted Today, 21:26

It's gonna be one helluva fall when they tank... 

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Posted Today, 21:27

Their stock is as hyped as their products.. it's a bubble that's going to burst so loud and it will have severe economic consequences.. and all because of the investors and those who are making quite a bit of money now want to make even more so they are propping up Apple's stock value.

Nobody cares about these numbers anymore really.. to most objective people (even investors) this is insanity. A company that has 80% of their revenue on 2 products is valued more than other companies with diversified revenues.

Completely disconnected. 
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post #28 of 59
Quote:
Originally Posted by NomadMac View Post

If I remember correctly, there was a split that you didn't account for. So, the 1,000 shares I sold at $27 would be worth $1.4 million. Cry me a river.

 

As big as the Amazon!

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post #29 of 59

I bought a small batch at $85 during the 2008 crash. Wish I would have bought more. About 75% of my portfolio is AAPL right now. I'm planning to hold on until sometime in February after 4th quarter earnings, then pare it all down to something less insane. By then I figure AAPL will represent 90% of my portfolio and that's just crazy by any definition. 

post #30 of 59
deleted: too off topic
Edited by Flaneur - 9/17/12 at 3:25pm
post #31 of 59
Originally Posted by Quadra 610 View Post
Daily Neowin Nonsense:

 

Talk about "completely disconnected"! lol.gif

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
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Originally posted by Relic

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post #32 of 59

Story of total vindication in the Apple Reseller world. I formed an Apple Reseller company 12 years ago with 3 other partners. Within a years time, the 3 three of them conspired to oust me, which they did. But they had to buy be out, which they did. Not sure what possessed me at the time. I was somewhat depressed. But the iPod was coming on strong and the iTunes store was just getting rolled out. So I took a big leap of faith and invested $10,000 of my buyout money into Apple. Today that same investment is worth $700,000. So I wouldn't say my old business partners did me a huge favor 12 years ago, because that gives them too much credit. After all, their intention was to screw me. But I wouldn't have it any other way. There's a lot more vindication to this story too if anyone wants to hear about it.

post #33 of 59
Quote:
Originally Posted by macguru View Post

Story of total vindication in the Apple Reseller world. I formed an Apple Reseller company 12 years ago with 3 other partners. Within a years time, the 3 three of them conspired to oust me, which they did. But they had to buy be out, which they did. Not sure what possessed me at the time. I was somewhat depressed. But the iPod was coming on strong and the iTunes store was just getting rolled out. So I took a big leap of faith and invested $10,000 of my buyout money into Apple. Today that same investment is worth $700,000. So I wouldn't say my old business partners did me a huge favor 12 years ago, because that gives them too much credit. After all, their intention was to screw me. But I wouldn't have it any other way. There's a lot more vindication to this story too if anyone wants to hear about it.

 

Do tell. :D

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post #34 of 59
Just curious what Microsoft's diversification is? Don't they make most of their money off of Windows and Office? And Google? Do they have diversified revenue streams or is it mostly advertising?
post #35 of 59
It's true that at the moment AAPL is probably the best stock for making money, but that doesn't mean it can't go down. In a market collapse, it could lose half of its value. The question for those who are heavily weighted in AAPL, is if you would be OK with that, or would you wish that you had cashed out some of it before it tanked.
post #36 of 59

The P/E is expanding in anticipation of january earnings. Lets hope the iPhone 5 sales to the end of september will be enough to save fiscal Q4. From what I have seen if they double the 4S they will have 8 millions in the first week-end. IF we get 10 millions by the end of the month Q4 earnings are going to be Ok (they will beat guidance and maybe estimates)

post #37 of 59
Quote:
Originally Posted by John Q. Public View Post

It's true that at the moment AAPL is probably the best stock for making money, but that doesn't mean it can't go down. In a market collapse, it could lose half of its value. The question for those who are heavily weighted in AAPL, is if you would be OK with that, or would you wish that you had cashed out some of it before it tanked.

 

I dont think Apple could go to 350 even on a major market crash, P/E compression would be extreme.  Lets not forget we also have 120 / share in cash alone.  But there is risk indeed with any stock trading at all time high. My market crash estimates are in the 500-550 range. I am trying to gadge how to enter this, because I expect 800$+ by january.  I currently have only options on the weekly, october and april 2013. I will add jan 2014 and feb 2013 on dips and hold 20% in cash in case of a correction.

post #38 of 59
Quote:
Originally Posted by herbapou View Post

 

I dont think Apple could go to 350 even on a major market crash, P/E compression would be extreme.  Lets not forget we also have 120 / share in cash alone.  But there is risk indeed with any stock trading at all time high. My market crash estimates are in the 500-550 range. I am trying to gadge how to enter this, because I expect 800$+ by january.  I currently have only options on the weekly, october and april 2013. I will add jan 2014 and feb 2013 on dips and hold 20% in cash in case of a correction.

 

Then again, who would've guessed AAPL would hit near $80 back in 2008? Many large "institutions" are still shuffling around money based on incredibly low interest rates, thanks to the madness of Ben Bernanke. The economy is floating on artificial supports with the "laudable" but idiotic goal of keeping employment at levels that are unsustainable.

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post #39 of 59
Quote:
Originally Posted by SpamSandwich View Post

 

Then again, who would've guessed AAPL would hit near $80 back in 2008? Many large "institutions" are still shuffling around money based on incredibly low interest rates, thanks to the madness of Ben Bernanke. The economy is floating on artificial supports with the "laudable" but idiotic goal of keeping employment at levels that are unsustainable.

 

In 2008 before the drop Apple was trading at a much higher multiple then now, which means it had a potential bigger gap down.


Edited by herbapou - 9/17/12 at 5:44pm
post #40 of 59
Quote:
Originally Posted by bill42 View Post

I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...
My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook?? 

Facebook is a bit of a risk right now. I managed to get 1,000 shares at opening, and we know what happened! What a botched mess. I ended up buying another 1,000 at about 19.5. That's it for me! I don't know what will happen, but I imaging, if I'm willing to hold long enough, I'll come out ahead. Don't know how long it will take though.
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