Saturday, July 07, 2007

Apple Inc. (Ticker: AAPL) Go ahead, bite the red apple, and no maggots here Mick

It strikes me that Apple has started something really big. Jobs and company have revolutionized the interface for communicating. The clunky mechanical button cell phone could become a relic when other phone manufactures start rethinking their designs. It’s the brains, logic, and programming that distinguish Apple’s icon driven interface iPhone. This thing has the power of a computer inside. The pundits where shorting Apple’s stock, betting nothing could live up to the hype coming out of Cupertino. The “smart money” was buying puts to hedge the selling that was surely to begin when the phone didn’t live up expectation. It exceeded. Apple had been on my radar as a China play and was in a low risk position technically on Friday, June the 29th. The lines at Apple stores were showing up all over the news, with buyers camping in lines. That’s when I pulled the trigger and bought Apple Inc. (Ticker: AAPL) for accounts I manage. The market has decided it likes iPhone’s prospects by vaulting Apples stock $10 higher in three trading days.

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