I own some $AAPL. It’s now back down about $70 from it’s highs last month.
In fact, it’s right back to the point in time where the Appple trillion valuations started in April with Gene Munster. Back in April, I sold into the trillion dollar mania. I don’t like the crazy price targets, especially media induced hype. The stock immediately dropped 20 percent so it’s been a bit of a wild ride since April with a net result of nothing. The stock has basically marked time.
Today, I am buying some shares at $633 and now $629… and will start adding down for the next 10-15 percent if we continue to melt down.
I don’t go to deep into the numbers when the trend is still this large to the upside. As my friend Dan Frommer writes recently….software is winning and Apple and Google are now dominantly growing in nations that started the mobile trends.
This trend wont continue forever, but I like the odds for now.