Jobs Delivers Big News: Market Hates It
Steven Jobs came out with fantastic news on iPhone sales, and the new Mac Airbook. The stock was close to $180 today, and is now getting absolutely killed.
I liquidated all postions at about $172- looking to get back in when the bloodbath is over. More when the smoke clears.
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I was with you at the Apple speculation, I like the their products, I own a MacBook Pro, but this time they failed. A P/E of 40 justified by what? I think its time to go short. The Iphone is a nice lifestyle product, but it is worthless for the business customer, especially outside the US. Both the Iphone and the new ultra slim notebook do not have UMTS. Wake up, Jobs, outside the US the world is not covered with WIFI hotspots, UMTS is the way to go. 3G-EDGE and GPS as well… I think the guys are sleeping here and thinking that the earth is flat and the US is the center… Wake up, without 3G and UMTS you won’t sell that shit in large quantities to serious clients. AAPL goes down with reason. Think it over. Short it. Same with TTGL and CPNE…. “Diversified holding company”… “selling the dream”… short it when you hear that kind of bullshit. The market likes clear success storie, easy to understand. Everything else is crap in this environment. I like AAPL, will buy it back at 100 in 3 to 6 month…
Editor: Since I am completely out, I hope you are right, because I would love a crack at this stock at $100. I think $150 might be more like it, but who knows.
Comment by MK — 1/16/2008 @ 2:19 pm
The stock looks to have made a high volume bottom at $157, which is support from 10 weeks ago, therabouts. I’m drawing my line in the sand right here. Thoughts? thx.
Editor: In general, I’m not a buyer of pretty much anything. More of a seller. I believe we might have more economy related downside here. My plan, once I feel it’s time to go back in, I might buy the stock and generate income by writing covered calls.
Comment by Lewis — 1/16/2008 @ 11:01 am