Apple Stock Poised for a Strong Comeback?
February 6, 2009 by Juan Magdaraog
Filed under Computers
[via CNBC]
Jim Goldman seems to think so. I agree with him. With Apple announcing one of its best quarters ever, it’s showing no signs of weakness.
Apple is in a unique position that it’s got a ton of money locked up in its vaults, it has no debt and a strong product line. All these make for a strong company that’s poised to ride out the recession.
Macs have been selling like hot cakes despite the slow down in the economy. People who are buying new computers are seriously looking at Macs. Just this month alone I’ve had 2 people I know personally who got Macs. That’s excluding myself who just got a new MacBook Pro recently. That goes to show that Apple’s sales are still showing good figures.
The iTunes ecosystem is unlike any other available today. It has not only dominated the market, it is the market. I just don’t see a meaningful competitor that can offer all what iTunes can. iTunes has music, videos and applications for the iPhone/iPod Touch. It makes it easy for people to buy these items.
As what the article says, with Steve Job’s leave, the focus on his health has been put on the side. Apple is showing that even without Steve Apple will get by. It has a strong management team, great people on board and a long product pipeline that will ensure it comes up with innovative products that people will want to buy.
Apple’s stock is trading at $98.86 as of this writing and in my opinion it’s still a good deal. In a market wherein companies are falling here and there, Apple is one of the strong companies that I’m willing to keep my money in. Oh, wait, I do have money with Apple…
Read the entire article here.
