Yup. Looks like I'll be making my losses back by tomorrow morning.
So much for all of the fear mongering.
Phew. The last 2 weeks have been tough on us long AAPL holders.
AAPL up about $35 after hours.
Yeah, I've been standing on the AAPL sidelines for far too long watching AAPL meet and exceed my expectations without owning any stock. Early this year I predicted AAPL should hit $800 to $1000 per share and then two weeks later I saw some pros saying that. When I saw the dip in the last two weeks I decided to finally put my money where my mouth was this morning and invest. In a way all the fear mongering helped make the stock affordable again, but now that I own the stock I am going to hate all that fear mongering.
Apple achieves THAT, coming off a monster holiday quarter.
Very impressive. And the stock's rebounding nicely on top of it.
There were some fears going in, but they should rightly be laid to rest now.
Disclaimer that I now own AAPL, but I don't see why they wouldn't keep this up for at least two more years:
1) 5% mobile phone market share worldwide with people switching to smart phones and iPhone dominating on every carrier where it is introduced. With only 5% market share Apple commands 80% industry profits. Imagine what they could do with just 10% market share.
2) iPad is the leader in the tablet category with like 80% market share with the tablet market growing at a faster pace than the iPhone ever did and consuming the PC market.
3) Apple is just now pushing into vast markets like China and Brazil. This will increase iPhone, iPad and Mac sales in those markets.
With all those factors I could not help but buy their stock this morning with the huge price drop before the earnings announcement. I expect AAPL to break $1000 share price in 18 to 24 months. Pundits will be naysayers and not all quarters will meet exaggerated expectations, but their profits should almost triple in the next two years. Other things that Apple could do to further enhance profit:
a) Revolutionize television
b) Introduce an iPad Mini
c) Introduce new iPod Nano software to give it "Pebble-like" functionality with iPhone
Apple could do none of those things and still keep up this pace for at least 8 more quarters.
I'm gonna come out and say it.
AAPL's gonna break $700 tomorrow.
That would rock. But I am more interested in what it will do in 18 to 24 months.
Ipods are 3% of revenue? Wow. Discontinuation of ipod classic and shuffle imminent?
Apple used to be known for Macs and ipods, now the company is all about ipads and iphones.
I think Apple will take notice of "Pebble" on Kickstarter and convert the iPod Nano into an accessory for iPhone. The iPod Classic and Shuffle are probably going to be discontinued with iPod Touch and Nano continuing on and possibly an "iPad Mini" getting introduced.
Haterz Crew. *sniff*
