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Apple has seen the pinnacle

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October 26, 2012 – Comments (4) | RELATED TICKERS: AAPL

We may indeed have seen the pinnacle from this company when the stock price reached $700 plus.  I didn’t think it would happen so quickly after Steve passed away when stock price then was around $378.

However, the i-phone 5 is a bust, and anyone buying them is simply loyal Apple followers. The rest of what they make is to expensive IMO unless you’re the neighbor next door whow likes keeping up with the "Joneses".

If you want an i phone, and don't have one - do yourself a big favor and buy the 4S updated with IOS 6; it's cheaper and you basically get the same thing without LTE, but, that's another blog... so lets move forward.  

I have a love/hate thing for Jim Cramer, but I have to admit he summed it up pretty well here: 

Apple has too many products, mostly at the wrong price points, that aren't selling well.

Apple has either made too many devices and they aren't selling or it didn't order enough and wasn't ready for the onslaught, two mistakes that are considered equally poor.

Apple's iPad sales are slowing dramatically, and there is a glut developing. The overpriced iPad Mini doesn't help the cause.

Apple's current iPhone is a bust, and Samsung's competitor is much better.

Apple's $120 billion in the bank is simply burning a hole in the company's pocket -- another sign that it doesn't know what it is doing.

Tim Cook is an empty suit, and we have seen the end of the Steve Jobs products

Apple is a rich stock to own and with an overdue market correction coming I wouldn't touch this stock if you gave me the money.

Sorry Apple, but you've seen the "Pinnacle" unless you find away to re-boot.

BTW - Jim if you happen to read this, "Hello" stranger. I've had my hands full with "life" and haven't been on the Fool much.

And to that, Fool on...... 

4 Comments – Post Your Own

#1) On October 26, 2012 at 4:41 PM, awallejr (35.58) wrote:

I guess Cramer capitulated with the "Aapl is an investment not a trade" thesis.  I wouldn't write this company off just yet.

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#2) On October 26, 2012 at 8:05 PM, Teacherman1 (< 20) wrote:

Glad you could drop by Tagit. Hope all is well with you and your family.

I saw that you had made a couple of picks in CAPS, but since you didn't make a comment, there was no place for a "Howdeeeee", as Minnie Pearl would say.

I've kind of had my hands full lately too. My wife had another surgery on her foot. Hopefully the last one.

They put about $20,000 worth of hardware in it, so her Doctor said she was to stay off of it, period.

Since she insisted on going back to work on crutches, I spend half of my time taking her, coming home, going back to get her, and then bringing her back home. She works 40 miles away.

I am getting whiplash from this crazy market, so just buying a few bargins and trying not to get smacked in the head.

I totally agree with you about Apple, but I've had no interest in buying them ever.

Good to hear from you. Try to take a few minutes from time to time to check in with your always interesting opinions.:)

Until next time.

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#3) On October 29, 2012 at 7:59 AM, lemoneater (56.61) wrote:

Tagit, good to hear some Apple analysis. I do not invest directly in Apple, but by investing in GLW (Corning) I invest in numerous tech companies at once since tech is often cased in glass :).

Give my regards to your wife. Hope that your holidays this year will be relatively peaceful and uneventful. Sometimes boring is good!

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#4) On October 30, 2012 at 4:55 PM, Tagit (< 20) wrote:

Good to hear from you both. Teach I hope your wife has a speedy recovery and Lemon I hope your doing well too.

As for my stock picks? Not..I .was hoping for a crap shoot on caps. :) = stay away.

I'll drop in from time to time, you folks take care.

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