Apple is making a run at $300 a share following news that pre-orders for the iPhone 4 have exceeded 200,000 units since the device debuted in China Saturday. So far, about 60,000 buyers received the phone through China Unicom , but the mobile operator said it stopped taking online orders because of strong demand.
How do you trade Apple now?
"I am enthusiastic about Apple because of its proven ability to create dynamic products," said Zachary Karabell, president of RiverTwice Research, adding that he's waiting to see what kind of success it will have with handheld televisions.
Karabell said if he were new to the Apple story, however, he would be nervous because the stock continues to push higher. Expectations for forward growth are so high, "even Apple executing brilliantly is going to have difficulty" living up to it. He thinks it's an "unbelievable company," but not necessarily an "unbelievable stock."
Pete Najarian, co-founder of optionMONSTER.com, is seeing a lot of options action with Apple and it's exploding to the upside. Chinese pre-orders of 200,000 iPhone 4 devices could be just the beginning, he said, as China Unicom has 8 million subscribers. In addition to the iPhone going global, he thinks sales of the iPad overseas will also help the Apple story.
WHEN WILL RIM RELEASE ITS TABLET?
Research In Motion kicked off its annual BlackBerry developers conference in San Francisco Monday where some think its tablet device may be revealed.
"All eyes are on RIM," said Collin Gillis, an analyst with BGC Partners, adding that if the Canadian company would pick a time to unveil the device, this would be it. Watch the video to see the full commentary from Gillis on RIM.
LIFE AFTER MARK HURD: WHO WILL H-P PICK TO LEAD?
Shares of Hewlett-Packard are higher ahead of an analysts meeting Tuesday where the technology company is expected to unveil its new CEO.
"The thought on the Street is if they bring an outsider in, it's positive for the stock," said Steve Grasso of Stuart Grasso from the floor of the New York Stock Exchange. "If it's someone internal that moves up, it's not so positive."
The stock needs to get back to the $47 or $48 levels that it was trading at before Mark Hurd left the company, Grasso explained. Meanwhile, it resumed a 'buy' rating with a $50 price target from Gleacher & Company Monday.
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