Many people have it backwards too. Price isn't someone's opinion of what a stock is worth, the value is. Value is based on an investor's opinion of what a stock is worth, and if an investor believes the price is below the value based on their opinion they are buyers and if they believe the price is higher than the value, they will sell.
After the recent retracement higher in price, a near panic finally lifted from the minds of many Apple investors. Unfortunately, the move higher has done little beyond replacing fear of losing, with wondering if "now is the time to take profits".
I am still bullish with Apple, but the more important question is where else should you allocate the capital if you sell? If you have an investment that you believe will yield a greater return, then by all means, go ahead.
Otherwise, it only makes sense to maintain your position until either another investment (this includes cash) is more attractive.
At the time of publication the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.