Is seeing believing? Apple stores were jam-packed with buyers of the new iPhone. I certainly wasn't one of them. For me, a free online game of Pac-Man is still blazing-hot and exciting.
For most of the tech-savvy world, though, the new iPhone is a must-have. So seeing is believing. Then again, once AAPL's earnings report came with a forecast of not-so-sensational expectations, the stock plummeted and opened on Tuesday at 146, down 16 or so. It wasn't that long ago when the stock was at 120. In May, AAPL was at 191. Which is the right price?
Both, probably. The market isn't someone I'd hang out with these days. Skittish. Fickle. Paranoid. At 146, AAPL was a steal, obviously, and has since returned to the 160s just one day after the panicked selloff. No iPhones necessary for me, but a few more shares of the stock might be the right order sometime soon.
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