Yesterday I sold the rest of my Apple. The kids don’t own it and I don’t own it. The last sales price I got was $415 and I posted it on Stocktwits. The last 25 percent down in Apple has been painful to watch and hold.
The stock will bounce. The stock may return to $700 on it’s way to One Trillion, but it sure has headed lower fast closing today around $390. I hope to revisit Apple on the way up again. The Company has too much product expertise, cash, distribution to slip into the abyss anytime soon.
People are so mad. They should be…at themselves.
I am mad …at myself. I don’t blame Tim Cook. He’s one dude. He was at Steve’s side on the way up. It’s not like Tim is blindsiding anyone either. He is not a product guy. He can’t ‘save’ Apple. He was picked by Steve himself. The stock has given the largest funds and smallest individuals all the time in the world to get out as it has crashed from $700 to $390. If you think Apple’s decline is the fault of Tim Cook it is simple…sell the stock because he is not going anywhere.
I have an old friend. He’s a complete putz. A poser. He named his kid ‘Apple’ a few years ago. In hindsight, that was the top. I think Sure Apple ran a few hundred points, but it’s right back to ‘Apple’s birth price.
For the time being, the stock market has gotten over Apple.
Sure $RIMM has doubled and Samsung is dropping Korea’s on everyone and Google is speading the seed of Droid. But it is not about them either.
Apple has finally gotten measurable. They are human. They bleed. They slowed down enough to understand. The law of large numbers just worked their magic. When you slow down enough for Wall Street to measure you, you better have another ace up your sleeve. Apple has not and so they will be measured by their margins, not their cash on hand.
The momentum has moved into new areas of mystery as it always does.
Healthcare, Biotech, Data, and the upstart Tesla $TSLA.
I love the markets. Don’t let one stock or company wreck the wonders of the stock market for you.
Disclosure – Long $nke, $tsla $ua $goog