Whats with the recent AAPL sell off?
Just trying to gain some perspective from people here. I know a lot of you are at top BBs on wall street. What's your take on why AAPL has sold off so sharply over the past 7 weeks? I know there has been a lot of negative sentiment around Apple recently, but fundamentally I believe the company is still sound. Are you bullish or bearish Apple? I'm a buyer at these levels.
Buyer here
also a buyer
I recently bought 10 shares of AAPL because the stock seems artificially low. I think the street is unhappy with the iPhone 5 not having mind blowingly better specs than the Galaxy S3 and Lumia 920. I also think that Apple is doing well, but other competitors such as Google, Amazon, and Samsung are catching up, which makes Apple's current achievements look less revolutionary. Also, I think the straw that broke the camel's back was the price of the iPad Mini. 329 dollars to pay for a tablet with old(er) specs just isn't worth it especially when you consider tablets from Amazon. During the holiday season, I noticed that a lot of iPad mini 16 GB tablets were on "sale" for 299 dollars, which still is overpriced. There was a recent article detailing how it only costs some 190 dollars to actually manufacture an ipad mini, so why not sell it for 249? I think Apple's business model is turning against them.
I recently bought an iPhone 5, and I have to say I really like the phone with the exception of its map. I heard from some apple forums that they're releasing a big patch, aka iOS 6.1 which is basically a new version of maps. Also, I think Tim Cook a good CEO, but he's not as good as Jobs and I think he knows that too, he's not stupid. He fired those in charge of the new software and the new apple feature, so I think at least he knows what direction they should go in.
bought in at $582...whoops...but in my retirement account for long run, so may pull trigger again if it gets to low 500s
Got out @ ~$700.
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