Apple on a Roll

[tigerbob]

For those of you looking for an investment opportunity, Apple has been ahead of the game for some time now and is still looking very strong.

Since its low of just below $80 earlier this year, Apple is now trading at nearly $160, and Q3 results just reported are very strong.

CUPERTINO, California—July 21, 2009—Apple® today announced financial results for its fiscal 2009 third quarter ended June 27, 2009. The Company posted revenue of $8.34 billion and a net quarterly profit of $1.23 billion, or $1.35 per diluted share. These results compare to revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share, in the year-ago quarter. Gross margin was 36.3 percent, up from 34.8 percent in the year-ago quarter. International sales accounted for 44 percent of the quarter’s revenue.
Apple Reports Third Quarter Results

The share price is still 40 points shy of the 2 year high, and analysts are still rating it as a BUY.

 

[wimpy77]

can you say ipods and iphone.

 

[Toro]

There is significant overhead resistance for Apple's stock in the $160 range.

It has doubled in about six months. The market is going up on air. I think it is a risky buy here other than perhaps as a short-term trade.

 

[Procrustes Stretched]

I can't believ anyone with money to invest did not go with Apple after it fell. Can anyone say ---undervalued---?

 

[Paulie]

I can't believ anyone with money to invest did not go with Apple after it fell. Can anyone say ---undervalued---?

My guess would be the media pumping doubt into people's minds at the time, about Steve Jobs possibly not coming back due to his undisclosed health problems.