A bargain hunter's paradise? Perhaps.
While most investors are staying out of the water (and I still wish ABC hadn't cancelled Invasion), I can't help but scroll through my favorite stocks at discounted prices.
• AAPL. What gives? A dumbass rumor sent this down to $131. It's still a steal in after-hours at $132.86. I know there is an issue with the iPhone's security flaw. But this is my favorite Co in so many ways beyond my devotion to this aging PowerBook. Apple will fix the problem as long as Steve Jobs is cracking the whip.
• BIDU. This got knocked down to $199 before closing at $201.98. Stellar earnings and supreme confidence by CEO Robin Li. Oh, and they have the backing of the world's toughest gang, the Chinese government. You say protectionism, I say Big Bubba got their back.
• RIMM. I'm not a fan of the Blackberry. Never touched one. But the fundamentals and growth (hello China) are astounding. RIMM shares peeled back 2.7% to $214. Bargain? Maybe.
• GOOG. Down just 1% to $510. As much as I love the Co, I just don't look to GOOG for my buys. I probably should. These guys won't split the stock, won't give guidance to analysts ... they do things right.
• CEO. Yup, I am still high on CNOOC Ltd. It pulled back a couple of bucks to $118.60 by the close. Still trading at just 11 times earnings. CEO was a steal before this correction.
• GRMN. Losing 1.3% today doesn't make Garmin a big discounted stock at $83.90. But earnings are out tomorrow, and sales are healthy. With GPS showing up in and on almost everything these days, $83 could well be a discounted price. I just wonder if slowing auto sales will have an impact right away.
• UA. Under Armor blew out earnings expectations, raised guidance and zoomed up 17% to $64.75 today. Then came the broad market selloff, along with profit-takers. At $61.41, UA is still 12% up from yesterday's close. But short interest is 50%. FIFTY PERCENT. Very compelling here. I should get some shares for my nephew sometime soon.
Maybe it's too early to wade back in. Maybe buyers will get caught in the tide. The companies that have destroyed bears with an arsenal of great earnings are lovable. More lovable when they raise guidance. Those would include UA and CROX.
Pupule Paul is long AAPL and BIDU.
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