I don't get it. I wish I did, but when it comes to Apple , I just don't get it.
Shares have been ebbing and flowing with little rhyme or reason since the end of last year, and it continues. Heading into last week's earnings, they rallied. They popped on the good news even further, but then pulled back for no discernible reason that I could tell. Then, in the subsequent days, they began creeping up. Again.
We get news from Rogers Communications that iPhone is headed to Canada, but didn't we already assume that news was coming?
We get rumors that Apple's memory orders with Micron are spiking. But with a 3G version of iPhone so widely expected, wouldn't we suspect that news was coming?
There's a rumor today that AT&T will subsidize the 3G iPhone to get its price tag below $200. But with the company criticized so widely for the original iPhone price --only to lower it soon after its release--didn't it stand to reason that Apple would address pricing with a new model?
With the way these shares have been trading, I guess we can expect a spike in price the moment the company announces the date of its "special event" to unveil officially the iPhone's second coming.
I come back to same point: too many people are trying to "trade" Apple instead of investing in it. Park some money in these shares for several months, and these day-to-day vagaries won't matter. Fact is, fundamentals have been strong, and in the case of iPod, stronger than expected. And as good as Mac has been, the spotlight is about to shift again to iPhone.
We know it. It's just a matter of time. Apple shares on the rise might be welcome news for those "trading" them. For those investing in them, on the company's fundamentals, the rally really isn't news at all.
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