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AAPL Slowly Climbing from Abyss

by , 4:20 PM EDT, March 26th, 2008

AAPL has climbed back into the US$140+ range after a series of devastating reports on the U.S. economy led to a massive selloff in January and February. AAPL had recently declined to a level, $120, that hadn't been seen since before the iPhone fever of 2007.

Now, investors are coming back to Apple. The stock hit a high of $145.74 on Wednesday and is holding in the $140 range after lingering in February and March in the $120 mark. In late February, AAPL actually dipped below $120 per share.

Some recent good news in the housing market, Federal Reserve rate cuts, federal backing of lenders and lessening demand for gasoline resulting in a slightly reduced price of crude have all contributed to easing concerns somewhat in the market. As a result, some measure of confidence seems to be emerging as the Apple bulls find a little more confidence in the economy and subsequently the consumer's interest in all things Apple.


Source: eTrade AAPL (with moving average)

In afternoon trading, AAPL is at US$144.32, up $3.34 for the day.

If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.

Observer Comments

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Close Name:Dreadnought Posts: 162 Joined: 01 Jan 2005
Wed Mar 26, 2008 4:40 pm Subject: Insert Tongue Firmly In Cheek

Mr. Martellaro:

You forgot the to insert the <irony></irony> tags for this sentence:

Quote
AAPL has climbed back into the US$140+ range after a series of devastating reports on the U.S. economy led to a massive selloff in January and February. AAPL had recently declined to a level, $120, that hadn't been seen since before the iPhone fever of 2007.


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Close Name:Small White Car Posts: 1960 Joined: 02 Jul 2004
Wed Mar 26, 2008 5:08 pm Subject:

Quote
Dreadnought wrote:
You forgot the to insert the <irony></irony> tags for this sentence:


Ok, you're going to have to refresh me on the whole irony thing.

How is "stocks go down for some reaons and then back up for other reasons" ironic?

I'm afraid I'm missing what you're trying to say.


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Close Name:Dreadnought Posts: 162 Joined: 01 Jan 2005
Wed Mar 26, 2008 6:53 pm Subject:

Quote
Small White Car wrote:
Quote
Dreadnought wrote:
You forgot the to insert the <irony></irony> tags for this sentence:


Ok, you're going to have to refresh me on the whole irony thing.

How is &quot;stocks go down for some reaons and then back up for other reasons&quot; ironic?

I'm afraid I'm missing what you're trying to say.


The irony refers to the overwrought depiction of Apple stock as being in the toilet, and that it's been a really long time since the stock was on an upward trend.

AAPL reached its all time high of $202 in January 2008, not July, 2007 - as the article implies. While it has lost considerable value since MWE, $120 a share is well within the range of historic highs. Until this last run-up - since the announcement of the iPhone in January 2007, AAPL's historic high was in the mid-$80 range, just after Apple announced a 2:1 split (late 2005).

The fact of the matter is that AAPL today is still 50% over its price a year ago, and to characterize the stock as being in the "abyss" is simply ludicrous. I am giving the author the benefit of the doubt, since he is an extremely intelligent and well educated person.


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Close Name:Guest
Wed Mar 26, 2008 9:43 pm Subject: Get ready for a big decline

Amazon with its all DRM-free music is killing iTunes where most songs are still DRM infected. Amazon will soon pass iTunes and expect the stock head back under $100.


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Close Name:Intruder -   TMO Mac Specialist Posts: 3143 Joined: 07 Jul 2004
Wed Mar 26, 2008 10:18 pm Subject:

"Killing"?

A bit of an exaggeration, don't you think?

iTunes has DRM because of the record companies, not because of Apple. If allowed, Apple would sell all of their catalog without DRM. The record companies are not letting them do that in order to wrest some control away from Apple and iTunes.


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Close Name:Guest
Wed Mar 26, 2008 11:38 pm Subject: .

Amazon surpassing iTunes is a non-event. It will have no discernible effect on AAPL. Apple doesn't make much money on music sales. I bet all the music sold by Amazon are mostly going into iPods. It is so easy to import those downloaded tracks into iTunes and then into your iPod.


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Close Name:Guest
Thu Mar 27, 2008 1:59 am Subject:

Quote
Dreadnought wrote:
AAPL today is still 50% over its price a year ago, and to characterize the stock as being in the &quot;abyss&quot; is simply ludicrous.


Not really. That valley in the stock price chart looks quite abyssal to me.


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Close Name:Guest
Thu Mar 27, 2008 2:02 am Subject: Re: Get ready for a big decline

Quote
Anonymous wrote:
Amazon with its all DRM-free music is killing iTunes where most songs are still DRM infected. Amazon will soon pass iTunes


Really?

Are you sure Amazon can sell over 4,000,000,000 songs "soon?"


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Close Name:Guest
Tue Apr 01, 2008 2:35 am Subject:

Quote
Intruder wrote:
&quot;Killing&quot;?

A bit of an exaggeration, don't you think?

iTunes has DRM because of the record companies, not because of Apple. If allowed, Apple would sell all of their catalog without DRM. The record companies are not letting them do that in order to wrest some control away from Apple and iTunes.


Yeah, along with the next 'iPod Killer' also.


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