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New CEO Tim Cook (L) and former CEO Steve Jobs (R)
No Steve Jobs? No problem!

When Steve Jobs announced that he was resigning as CEO of Apple last month, many wondered how the market would respond to the news. With Tim Cook at the helm as the new CEO of Apple, investors need not worry -- in fact, Apple's stock is performing better than ever.

AAPL hit a high of $411.85 today and is now hovering around the $410 mark with just under an hour left before trading ends today. The stock is up 2.4 percent today while the overall market is down 1.28 percent. 

Apple Inc. now has a market cap of $380 billion compared to $355 billion for Exxon Mobile Corporation.

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By Dorkyman on 9/19/2011 5:31:47 PM , Rating: 2
Just flabbergasted at the stock price.

I would NEVER buy in at that price. But then I said the same thing at $300, and at $250, and at $200.

I still believe, however, that there is an enormous correction coming.

RE: Wow
By Brandon Hill on 9/19/2011 7:38:53 PM , Rating: 2
I thought the correction would come when Steve Jobs bolted... I guess not.

RE: Wow
By silverblue on 9/20/2011 2:45:11 AM , Rating: 2
You just know that he'll be back if it gets bad enough at Apple... imagine the tagline - "The Magic Is Back Again."

Whoops, that's Lethal Weapon III.

RE: Wow
By TakinYourPoints on 9/19/2011 7:52:47 PM , Rating: 2
You need to ignore stock price as that is partly the product of outstanding shares. Apple hasn't split in ages and likely never will, same as Google.

The important metrics aside from gross revenue and net income are PE and PEG ratios. Their PEG ratio in particular is actually low for a tech stock. Fear, surprisingly enough, is keeping AAPL's price down. The thing is that their revenue continues to accelerate and they are nowhere near the ceiling for market saturation just yet. On top of that they are one of the tightest run ships in the industry from an operational point of view, so very little waste in R&D and production compared to most other techs.

This is a relatively risky time to jump in, all time highs usually are. Funny enough, the safest recent time to buy in was when Mick posted an article about investors fleeing AAPL stock back in June when it was trading around $320. The thing is that it was at the same time when AAPL was trading at the 200 day moving average on 3+ monthly and yearly charts. This is a massive level of price support and technically a low risk level to buy at. Combine that with the contrarian indicator that the media and blogs almost always are (buy when there is fear, sell when there is euphoria) and it was an excellent buy signal.

I posted all of this back in June and picked up some shares myself. I wonder if anyone else picked up on the advice and made some money.

RE: Wow
By silverblue on 9/20/2011 2:47:17 AM , Rating: 2
I'm surprised people aren't buying Apple stocks instead of gold... or perhaps they are? I'd rather sink money into technology stocks than into a volatile commodity, but that's me, although I can't afford either so the point is rather moot.

RE: Wow
By TakinYourPoints on 9/20/2011 4:04:39 AM , Rating: 2
People have been. There is a strong case for both btw, the main case for gold and other precious metals being the continued devaluation of the USD (commodities like gold and oil are priced in US Dollars, so when the value of the dollar drops it puts upward pressure on commodities).

In any case, having all of your eggs in one basket is never a good thing. There are many investors who have both technology and commodities in their portfolios.

RE: Wow
By michael2k on 9/19/2011 11:11:44 PM , Rating: 2
Why would you believe that when Apple's P/E is lower than Google or Amazon?

RE: Wow
By michael2k on 9/19/2011 11:16:50 PM , Rating: 2
More information on how to calculate a stock's value is here:

Just assuming 10% growth for 5 years (which is lower than anyone expects) you see AAPL is worth $423. Their growth has been more like 20% to 40%, that really means if nothing else changes in the next 5 years they really should be worth $600 to $700.

RE: Wow
By web2dot0 on 9/21/2011 11:32:43 AM , Rating: 2
Buddy, I had it worst ... I didn't buy when it was $35.
So, keep saying "correction" ..... at some point there's bound to be "correction", but that's like saying at some point, everyone's going to die.

Don't believe, because that's your heart talking. Use your head.

"When an individual makes a copy of a song for himself, I suppose we can say he stole a song." -- Sony BMG attorney Jennifer Pariser

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