Filed under: Apple Financial
AAPL hits 52-week low again, makes up for it
In a rollercoaster day on Wall Street, Apple shares closed up a scant $1.07 today, landing at $98.14, after a broad market sell-off this morning related to anxiety surrounding global financial markets.
AAPL once again hit a 52-week low of $87.54 per share around 10:45 Eastern this morning. However, shares regained momentum in a closing-bell rally, finishing up nearly half a percent.
Apple shares bucked the trend of many tech stocks today: Microsoft, Google, Dell, HP, and AT&T all were less fortunate, losing between two and five percent of their value.
Shares were modestly higher in early after-hours trading.
![TUAW [Cafepress]](http://www.blogsmithmedia.com/www.tuaw.com/media/tuaw-cafepress-promo.png)
Reader Comments (Page 1 of 1)
dote said 7:40PM on 10-06-2008
Didn't AAPL close up $1.07 today at $98.14?
Reply
Robert Palmer said 8:00PM on 10-06-2008
Yes it did. I corrected the error. Thanks for the catch!
dote said 8:02PM on 10-06-2008
Np, thanks Robert!
Reply
Balls said 8:10PM on 10-06-2008
Except, Google, Dell, HP, and MSFT didn't lose 50% of their value in one month.
AAPL sure did.
Reply
dagamer34 said 8:15PM on 10-06-2008
If there were an time to buy Apple, the next few days would be it.
Reply
Bassir said 8:18PM on 10-06-2008
Yes, unless you have thousands or even millions to spend on the shares, you won't see much of a profit. Unless you count a few thousand dollars a significant profit.
But yeah, you're right, it's a good deal for serious investors.
screech said 8:22PM on 10-06-2008
@Bassir:
investment is all about percentage gain not $ gain. its a great time to invest for a small or large investor. if i make a less risky financial investment, granted i will get a smaller return. plus if your net worth is significantly less and you make an investment that only yields me a "few thousand dollars" thats a huge victory.
Murphy Mac said 8:38PM on 10-06-2008
You can say that again. I thought it was time when it hit $120, and then $110. I've bought everywhere from $15 to $170.
First rule of aapl investing, don't talk about aapl investing
Second rule of aapl investing, expect the unexpected
Blowing out a quarter means nothing to Wall Street when you're talking aapl. You have to blow it out AND have a forecast for the NEXT quarter that is better than Wall Street would ever dare imagine.
Mac sales with growth that shames other PC makers? Meaningless. 10 million iPhone sales? Meh. Dominating multiple businesses you weren't even in ten years ago? Booooringgggg.
I'm long on Apple because I believe they have a better product than Microsoft and its merry band of hardware manufacturing friends. They're reactionary drones, making dull copies of Apple products. Apple products stand apart. The copy cats are unremarkable.
With time, more and more people will ditch MS in the home for Apple. Word is out, but it takes time. At some point Wall Street will have to board the train, before the price of admission is too high.
And one last thing, a huge advantage for Apple that often goes unsaid: I ask people what they do if their AC adapter dies on their Thinkpad. Their Lenovo. Their Dell. Does the manufacturer have a store in their mall? No, they have to order it and do without for days.
Apple users, in many cities, have a store where they can get their machines repaired rapidly, with assistance for backing up their data. Where they can get that replacement adapter. Where they can ask an employee of the manufacturer for help. For free.
Dell and the rest are so far behind on this front, it would take them years to get in the game even if they had a retail team with half the expertise that Apple has. They don't. Others tried personal computer with creative angles and failed. Apple excels in this game, and already has choice mall properties. Wall Street needs to wake up and recognize this asset.
aapl at $170 was extremely reasonable. aapl in its current bargain bin is a steal.
screech said 9:32PM on 10-06-2008
@Murphy Mac: +1, great post
ianlive said 11:09PM on 10-06-2008
I agree with all comments suggesting Apple is a bargain right now. I bought at $150 and didn't really care that it was this low since it is a market driven crash and not an Apple stumble. I know it will go back up.
That was yesterday. Today I got a margin call and was essentially forced to sell. Today is a hard day to be an ex-AAPL owner.
Reply
Murphy Mac said 11:13PM on 10-06-2008
tough one ianlive. maybe somehow you'll be able to get back in before the next ride up.
Jash Sayani said 11:18PM on 10-06-2008
How come the Setve's death humour is not mentioned ?!?!?
Reply
BuddyBoy said 5:33AM on 10-07-2008
Cause it's not that funny?