Granted, the first was short-lived, but there's not much of an excuse to miss the second one when Apple traded two full days below the widely watched average.
Maybe the only reason to justify not buying is to believe you're smarter than the legendary investor Carl Icahn. You know he did his homework and more due diligence than you could possibly perform. The good news is it's not too late to exploit the still relatively cheap price of Apple's stock.
Bearish pundits predicting a slowdown in iPhone sales and death through margin squeeze are busy wiping egg off their collective faces. The new iPhone 5S and 5C models are breaking records with nine million new iPhones walking out the door and into iBuyer's eager palms.While I believe Microsoft (MSFT) is currently the biggest beneficiary of BlackBerry's (BBRY) self-destruction, it certainly doesn't hurt Apple to have one fewer competitor -- especially a company that at one time dominated the space and could come back from the dead. Google's (GOOG) Android platform won't shed a tear for BlackBerry, obviously. At the same time, it's a mistake to believe the difference in revenue for Google will be greater than an accounting rounding error. In other words, no measurable impact to Google's financials. If you look back at Apple's history, it, too, once fell from grace only to come back stronger than ever. With that said, don't expect BlackBerry to sell quickly for $9. I wrote an article that lays out why I believe $9 is too cheap. Unlike BlackBerry, Apple's current problem is supplying the market with enough product to fill the demand. Of course, scarcity could be part of Apple's strategy to ensure continued buzz about demand. It's early to tell, but at least one gold iPhone 5S was offered for more than $10,000 on eBay (EBAY). I looked at that auction and others on eBay and found relative "deals" closer to $2,500. If any doubt remained about Apple's dominance in the space, it left the building last week. Moving forward, investors can expect continued volatility, albeit use the volatility to their advantage.
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