Tuesday, April 22, 2008

No more AAPL for me

I divested myself of AAPL on Monday afternoon, at $167.02. It had a great run up in the last few weeks, and closed at $168.16 on Monday. However, with all the various Wall Street analysts increasing their estimates for the quarter recently, I had become less optimistic that Apple will wow investors in their earnings call on Wednesday.

I hope for Apple's sake and the sake of its investors that Apple does blow past earnings estimates and provides better than expected guidance for the coming quarter. If so, AAPL should see a nice increase after hours on Wednesday. However, if they only meet (the new) expectations and provide very conservative guidance, it's quite possible that AAPL will drop in the short term by quite a signficant amount.

In the meantime, I will watch with interest... from the sidelines.

AAPL opened on Tuesday at $167.41, and as of 10:04 am was $163.81.

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