Apple Stock Avalanche
January 26, 2008
After enduring the avalanche that has been Apple’s stock price over the past two weeks, I’ve been wondering if the investors heard the same announcements I did. It didn’t help that Steve Jobs spooked everyone by giving a less-than-stellar forecast for the upcoming quarter.
This means the AAPL is on sale! I’m guessing that we’ll see the stock price hit 200 again by June. It will recover as investors realize that the new MacBook Air is the best in its class and that iTunes Movie Rentals will result in big bucks for Apple over the next quarter.
I am not that worried about the markets now. Most of the bad news is out now. I think that we are in some kind of flat correction.
Although in real terms the stock market may not get higher (because the value of the dollar keeps going lower) I would expect a new wave of manic buying during 2008 and 2009. It is a bubble economy, after all.
Good points. The last two weeks has been a panic that I haven’t seen in a long time. I think I read that last week was the worst slide in AAPL’s stock price since 2001.