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Buying Apple Stock At Market Open Tomorrow At $25 Off

21 July 2008 2 Comments

Last week, I wrote that I sold a large chunk of my Apple stock at $174 a share ahead of earnings because of two factors. For one, tech stocks had been trading rather weakly, and two, Apple was likely to have mediocre guidance for the rest of the year which would result in the stock tanking after earnings. Today, this scenario pretty much happened exactly as predicted.

Right now, after hours, the stock is trading under $150 a share. I am planning on purchasing back my position at nearly $25 a share cheaper than just four days ago. As I’ve said many times on this blog, I’m a believer in the long term story of Apple, but I also attempt to maximize the short term trends that happen with a widely hyped, volatile tech stock like Apple.

In other news for Apple investors, it seems that iPhone sales are out of control right now. I know several people who have been trying to buy iPhones and have been unable to! Plus, the introduction of the iPhone into China is still to come.

Stay tuned to 20s Money for more Apple updates, as any consistent reader knows, it’s my favorite stock to follow.

2 Comments »

  • SBF said:

    Good job Kevin. I’m keeping my eye open.