Apple’s Stock Reacts to Macworld
12.18.06 - 04:24pm
Now may be a great time to buy Apple Stock, for a variety of reasons, but the main one - is Macworld.
Apple is expected to introduce a slew of new products at Macworld this year including iTV, a larger Video iPod, and some sort of smart-cellular phone, (no we can no longer call it the iPhone), which is probably the most highly anticipated. Stockerblog reported today that in four of the last five years, Apple’s stock has increased at least 8% and as much as 37%, measured from Nov. 15th to the last day of the Macworld Expo in January.
There has been some discrepancy of late between analysts and Forrester Research over the profitability of iTunes and stories that the phone may not have a January introduction time as originally rumored. These stories plus the investigation into Apples backdating has caused the stock to slip, a little. Today, Monday the 18th it closed at $85.47 down from highs in the low 90’s.
Stock Analyst, Jim Kramer of The Street.com says “Anyone who tells you that the Apple story is over doesn’t know the company that well. They’ll have a record slate of new products each year, and the replacement cycle for iPods will remain robust. I’d look to pick away at Apple on any further pullback.”
Speak Your Peace