Apple Stock May Be on the Rebound
In case you don’t follow Apple stock performance closely, it’s worth calling your attention to the significant pullback that Apple stock has experienced recently. After reaching a high of $200 in the remaining days of 2007 and closing the year at slightly over $198 a share, Apple stock has slid considerably in early 2008, reaching a low of about $160 on Wednesday. While tech market watchers have largely contributed the slide to general market weakness and anxiety due to prospects of a major slowdown in consumer spending, they also maintain that Apple fundamentals continue to remain strong with record iPod sales, burgeoning iPhone sales and solid gains in the Mac business. Apple Inc. (AAPL) is due to announce its Q1 fiscal quarterly results on Tuesday Jan. 22 at 5:00 PM EST. The current deflated Apple price plus the likely possibility of announcing record quarterly profits may present investors an opportunity to place long positions on Apple and reap the benefits. Adam Lashinsky, a senior writer at Fortune, is one such market watcher that believes the beaten Apple stocks represent a buying opportunity. Lashinsky called current Apple growth rate estimates for 2008 “astounding” and says Apple “has a habit of underpromising and overdelivering” [sic].
The conference call as a webcast on Apple site ( QuickTime 6 or 7 required)