Apple plays in the consumer marketplace and has to compete with Pentium / Athlon boxes. Although your argument has merit in the technical sense, that's not how the consumer thinks. Heck, Sun is not even on his radar screen. How well do you think Sun would do against Intel boxes in the consumer space?
Although I think AAPL has been ludicrously oversold, I also believe there is good reason for the bearishness. It's hard for people to imagine that AAPL is not a one-trick pony / flash in the pan. To put some confidence back into the stock, SJ will have to come out with a humdinger or two on 10/18. Saying that OS-X will be released earlier than expected would qualify for one. But that's wishful thinking, I'm afraid.
Yea, yea, yea... Look we got a 12 month price target of $31. Does anyone on this thread believe "honestly" that it will take that long for this stock to see $31.
OK. So the world is falling apart. There's blood in the streets of Gaza. Organized Pals. are attacking the US military. The Arab oil cartel can't make up their mind on distribution quantities. The Fed sees inflation on the horizon. And, to top things off two clueless clowns are running for president!
But that will all be over in a few months. I think we'll see $31 AAPL by February.
How's that for positive thinking in the face of adversity? HerbVic
You forgot about the weak Euro and tax loss selling!!!
But I agree with your analysis, I don't think it will take a year to get to $31. If during earnings conference AAPL says 2001 earnings will exceed 2000 earnings, even by a SMIDGEON (that's a technical analysis term), we will see $31 by February, as you say.
It's nice to see some "new" upgrades. But, do you really believe the crap (Yes, that's my take on it) about the price target of $31 in 12 months? Let's see, Apple has been cut by 60% in just the last 14 days and 80% from its high! A price of $31 doesn't even come close to giving Apple a "fair" price, even in today's looney markets. And, I'd also like to see someone really convince me Apple was priced to perfection at a price of $40, 50, $60 or even at $70 (with a PE just over 30 at $70) when many startups are still trading today Oct. 12 2000 10:15 pm at PE's in the stratosphere. IMHO, Greenspan pulled the trigger one time too many as he should have seen the impact of rising crude prices in slowing the economy, but most analysts take even more blame as they hyped to the stars many unworthy companies and business models and hyped down many well established cash producing companies.
Gateway Posts Third-Quarter Gain; Hopes for Holiday Sales Are Strong By GARY MCWILLIAMS Staff Reporter of THE WALL STREET JOURNAL Gateway Inc., sidestepping the tougher going in PC markets, said that third-quarter profit surged 35% and offered a rosy outlook for the industry's crucial holiday sales. interactive.wsj.com
Guess that puts the lie to overall slack in PC demand. Interestingly, much of Gateway's success is in the expanding consumer market, with expanding local stores. Just what Apple is doing (or soon will). All Apple needs to do is get the price right. Dan