Spent the past week in Cuba but this isn't a travelogue. Rather, it's about a book I read while away. Started the Steve Jobs biography on the plane on the way down and finished it the day before heading home. The book was two stories in one. First, the biography of the genius perfectionist, Steve Jobs. Secondly it was story of Apple Inc., the company that Jobs co-founded, was squeezed out of, then returned to work for a dollar a year, while he re-invented the company and in the process turned Apple Inc. into the world's most valuable corporation.
In the read, I finally got a sense why so many are so crazy about all things Apple. The hardware, software, apps and content be it music, books, movies, TV shows, newspapers or magazines, come together in a way that no other platform comes close to. And I thought my Blackberry and PlayBook were cool.
I've been tracking Apple's (AAPL) share price for a few years. Every time they'd reach a new high I'd declare, "too rich for me" or, "this can't be sustainable". Then Apple would churn out another record breaking quarter or a whole new product that nobody wanted because nobody had ever thought of it before and away we'd go again! Onward and upward! Heck, Apple shares started this year at $411 and peaked on March 2 at $545. If you want to get real sick, have a look at a 10 year chart for Apple. From $12 to $545 with a 2 for 1 split in February of 2005 thrown in for good measure.
The worst kept secret for the past while was that Apple would unveil a third generation iPad at a planned "event" today. I had a bit of cash in my trading account that had been there since selling Cisco in January but not a lot when considering shares at something over $500 apiece! I looked up and down my list and there is was, my long held aggie ETF, COW. I pulled the trigger, placed a sell order, unloaded COW and placed and order for Apple shares. All this was in a rush as I figured if the noon (CST) announcement was great the price would soar later in the day.
I bought Apple shares at $535 just before noon. Well, the announcement was pretty much as expected, another great product, but it seems that the market had already run up in anticipation so as the day wore on the share settled back to close at $530.69. What, me worry? Not a chance! I figure not owning Apple is akin to not owning real estate. I'm very happy to be "in the market" with my newest holding. Guess I'll just have to wait another quarter or two..maybe. But maybe not. Who knows, with this company they may announce that today's pre-orders topped a gazillion units and anyone who waits until they actually go on sale on Friday will have to wait three months for delivery.
IMPORTANT REMINDER:
Nothing on this site should ever be considered to be advice, research or a suggestion or invitation to buy or sell any securities. Every investor should do their own research and consult their own finance guy. See full DISCLAIMER.
In the read, I finally got a sense why so many are so crazy about all things Apple. The hardware, software, apps and content be it music, books, movies, TV shows, newspapers or magazines, come together in a way that no other platform comes close to. And I thought my Blackberry and PlayBook were cool.
I've been tracking Apple's (AAPL) share price for a few years. Every time they'd reach a new high I'd declare, "too rich for me" or, "this can't be sustainable". Then Apple would churn out another record breaking quarter or a whole new product that nobody wanted because nobody had ever thought of it before and away we'd go again! Onward and upward! Heck, Apple shares started this year at $411 and peaked on March 2 at $545. If you want to get real sick, have a look at a 10 year chart for Apple. From $12 to $545 with a 2 for 1 split in February of 2005 thrown in for good measure.
The worst kept secret for the past while was that Apple would unveil a third generation iPad at a planned "event" today. I had a bit of cash in my trading account that had been there since selling Cisco in January but not a lot when considering shares at something over $500 apiece! I looked up and down my list and there is was, my long held aggie ETF, COW. I pulled the trigger, placed a sell order, unloaded COW and placed and order for Apple shares. All this was in a rush as I figured if the noon (CST) announcement was great the price would soar later in the day.
I bought Apple shares at $535 just before noon. Well, the announcement was pretty much as expected, another great product, but it seems that the market had already run up in anticipation so as the day wore on the share settled back to close at $530.69. What, me worry? Not a chance! I figure not owning Apple is akin to not owning real estate. I'm very happy to be "in the market" with my newest holding. Guess I'll just have to wait another quarter or two..maybe. But maybe not. Who knows, with this company they may announce that today's pre-orders topped a gazillion units and anyone who waits until they actually go on sale on Friday will have to wait three months for delivery.
IMPORTANT REMINDER:
Nothing on this site should ever be considered to be advice, research or a suggestion or invitation to buy or sell any securities. Every investor should do their own research and consult their own finance guy. See full DISCLAIMER.
As always, Good Luck and Happy Investing!
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