Apple, sour Apple. I did get more shares yesterday, during after-hours trading. Apple, as I've written many times, is one of the few companies I feel comfortable holding through thick and thin.
Today would be one of those thin times. The stock plunged more than 5% after Apple announced that iPhones would be $200 cheaper, and also that the new iPods — the iPod Touch — will have iPhone-ish capabilities. There are two schools of thought about this.
1. AAPL will continue the nosedive. The price cut will kill revenues. The world is coming to an end.
2. Lower prices will open up the iPhone to a huge number of buyers as the holiday season nears.
Personally, I don't agree with #1. The world isn't coming to an end. It just feels like it sometimes. As for #2, can't fight the holiday trend when it arrives.
And there's something the bears can't argue against: the souped up iPod will is another steroid-fueled category killer. Apple will ring in the new season, all right. Cash registers will do the ringing. Ka-ching!
last100: Apple evolves iPod line, introduces direct downloads
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