Apple closes at record high, confounding advice to sell at iPad launch
Apple's stock price has gained 5.83 percent since last week's unveiling of the new iPad, crushing advisors who thought that the release would provide a good opportunity to sell.
Apple closed at $568.10 per share, a new all time high just 8 cents below the 52 week high set during the trading day.
The new high set the company's market cap at $529.68 billion - that's less than a half billion less than the annual American military budget, but now $120 billion higher than Exxon Mobil, which had been neck and neck with Apple in market cap over the past two quarters.
Apple's market cap (the value of all outstanding shares in the company) is now greater than the market cap of Google, HP, RIM and Microsoft combined.

And while the company's stock was already up 46.11 percent for the year, it's up another nearly 6 percent since the iPad event last Wednesday, a time pinpointed by a variety of pundits as a good opportunity to sell.
The day before the iPad event, Motley Fool writer Anders Bylund provided "4 Reasons to Sell Apple Today," recounting among other things that Apple's "cool factor is fading fast."
He was joined by a variety of other pundits who described previous stock price drops at or around new product introductions. Apple's stock briefly fell nearly 10 percent after the release of iPad 2 last spring, but has since climbed nearly 54 percent over the past year.
[ View article on AppleInsider ]
Comments
?Apple's "cool factor is fading fast."
Yep. I guess nine years of solid cool factor have to die off sometime. Why not right after their most impressive and game-changing product yet?
The day before the iPad event, Motley Fool writer Anders Bylund provided "4 Reasons to Sell Apple Today," recounting among other things that Apple's "cool factor is fading fast."
[ View article on AppleInsider ]
The Motley Fool is the financial equivalent of DigiTimes. I applaud them for their encouragement of understanding financial reports. But if you ever watch one of their videos on Apple, it's as if they haven't a clue.
i'm patiently waiting for Siri to tell me there's a snow squall and traffic ahead and suggesting an alternate route that was just sanded and plowed.
I thought it was too good to pass up, and added to my collection. Apparently, I wasn't alone!
It must suck to be an Apple short.
In the couple of days after the new iPad announcement, Apple fell from ~$545 to ~$520.
I thought it was too good to pass up, and added to my collection. Apparently, I wasn't alone!
It must suck to be an Apple short.
Apple fell over a few days prior to the iPad announcement, opening at 520 the day before. But after the announcement, Apple opened up $10 up each day, and maintaining that growth over the past week. That's how it got from ~530 to $568 in a week.
In the couple of days after the new iPad announcement, Apple fell from ~$545 to ~$520.
I thought it was too good to pass up, and added to my collection. Apparently, I wasn't alone!
It must suck to be an Apple short.
I hate to admit it, but I sold at $542 before the announcement. I didn't have a fortune in but i was long for 4 years and figured I should lock in some nice gain and wait for the illogical correction that always seems to happen when things are going well.
I felt like a genius for about 26 hours! Now I'm like the kid at the playground sitting by himself watching all the other kids play a game...
I hate to admit it, but I sold at $542 before the announcement. I didn't have a fortune in but i was long for 4 years and figured I should lock in some nice gain and wait for the illogical correction that always seems to happen when things are going well.
I felt like a genius for about 26 hours! Now I'm like the kid at the playground sitting by himself watching all the other kids play a game...
Next time think about not buying or selling 100% of a position at once.
The Motley Fool is just that: a motley fool. The value of APPL stock will rise or fall based on its earnings, not because some bozo at the Motley Fool wants to say something provocative in an attempt to drive traffic to his website. As anyone with half a brain can see upon looking at the facts, it is virtually certain that Apple will sell substantially more iPads, iPhones and Macs in each of the next 2 to 3 years. This will drive a dramatic increase in earnings, and because the P/E ratio of APPL stock remains at a ludicrously low level, the stock price can only go up.
What does the stock symbol for Appell Petroleum have to do with this discussion?
I hate to admit it, but I sold at $542 before the announcement. I didn't have a fortune in but i was long for 4 years and figured I should lock in some nice gain and wait for the illogical correction that always seems to happen when things are going well.
I felt like a genius for about 26 hours! Now I'm like the kid at the playground sitting by himself watching all the other kids play a game...
Your blunder is that you sold it all. You should have sold half, kept half to hedge your bets.
Now you have no position whatsoever. Your mistake.
You can rebuy when it drops down to $530 or whatever. Naturally, you'll get dinged on the transaction fees, but at least you sold long in a year when capital gains are still relatively low.
The fact they are still writing for the masses and playing with their simulated portfolios says a lot.
Anal-ists (no spelling error) encouraging people to sell, based on what premise.
The premise that if they can get enough suckers to heed their advice they'll be able to buy Apple shares at a lower price.
"Slapppy, come out and plaaaayyyyy!"
Sorry but he is busy slappping himself.
So that is what I did. I sold my Apple shares on Wednesday the week before the announcement at $544.50 and then bought them back on launch day for $533.12. That netted me over $2300 in the span of 2 weeks (I have 50 shares). Overall I must say I am a very happy Apple investor (and customer)