This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stockpickr Snapshot: Apple

Apple (AAPL) might be a perfect case study today in the "wisdom of the crowd." That's the idea that goes along with efficient market theory, which says that when a concept, stock or idea is overwhelmingly approved of by "the crowd," then it is usually correct.

Today, Apple went up as much as 5% to hit an all-time high at $102.50 before settling back to $100.33 as I write this. These shares are not up on pure speculation but on the blowout earnings of 87 cents a share for the quarter ($770 million in cash earnings) compared with $410 million in earnings, or 47 cents a share, in the year-ago quarter. Analysts were expecting 64 cents for this quarter.

The company sold 10.5 million iPods and 1.5 million Macs. Even margins went up as prices for the flash memory components in the iPod steadily declined. Margins went from 29.8% in the year-ago period to 35.1% now.

This is all in the face of ongoing negative news about Steve Jobs' relationship to the options backdating scandal. Also, Apple recently stated that it is delaying the release of its Leopard operating system to focus more on the iPhone.

All of this has been very good news for users of Stockpickr. Of the 60,000-plus portfolios on the site, 6,203 hold Apple. Furthermore, there are more than 14,000 symbols across all of Stockpickr's portfolios, and Apple is No. 1 on the most-liked list followed by NYSE Euronext (NYX), which is in 5,389 portfolios, and Altria (MO), which is in 4,496 portfolios. In the case of Apple, the crowd clearly knew best, delivering a solid blow against the contrarian investing crowd.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs