'Longer Term, Everyone Thinks Apple Is Going Higher'

"Longer term, everyone thinks Apple is going higher...Apple is a long-term buy...I don't think anyone is going to argue that."

On yesterday's Fast Money show on CNBC, Steve Grasso made the above comments. If only investing was that easy. When we start hearing things like this, it's probably time to lighten up on the position. If investors begin to think a stock can't go down, it's usually about to start going down. From it's low in January, Apple (AAPL) has doubled from $78 to $156. The comments come 8 minutes and 40 seconds into the video below:

Comments

[AGuysOpinion:]

sweet analysis bro

Jul 23 11:41 AM

[AGuysOpinion:]

Sweet analysis bro.

Jul 23 11:41 AM

[Timeline St...:]

Well Apple doesn't pay a dividend, so it would logically NEED TO GO HIGHER for anyone to want to invest. Duh.

But I also take issue with your logic here, which is quite similar to what I heard when it was at $90, $110, $120, and now $158 today. I'm not saying that I know you'll be wrong, but you haven't exactly made that case that suggests that you are a credible predictor of the future.

If I look into the future, 6 months, 12 months, I see Apple at $200 a share. Maybe $250. How it gets there is the question.

Jul 23 11:51 AM

[isellapple:]

Apple will continue to trend higher for many years to come!

Jul 23 12:06 PM

[golf junkie:]

AAPL will trend up for the next few years as long as there's a strong consumer demand. We don't see this kind of interest in any other brand. Upcoming new and improved products will keep AAPL going for a while.

Jul 23 12:18 PM

[some_guy:]

"When we start hearing things like this, it's probably time to lighten up on the position."

Is there any more intellectually ridiculous a statement that could be made by a supposedly professional investment organization? Yup - let's sum up our investment strategy in one simplistic rule!

Amazing...

Jul 23 12:20 PM

[Michael McD...:]

AAPL has many top products and more to come. A netbook is rumored to be ready by October for the holiday season. The iPhone is overwhelming sales of competitors in other countries, AAPL can't build them fast enough. The iPhone has about 5 years of life left before another "new" device is created (not necessarily by AAPL).

The MacBook is THE choice for college bounds... How can AAPL stock go down? Another market dive, Jobs leaving... that's about all.

PS: Now that the iPhone is Exchange compatible, it's ready for the boardroom. Windows 7 will be a difficult upgrade so some businesses will switch to OS X, for simplicity and security.

Jul 23 12:50 PM

[thinkb4uwrite:]

Apple is unlike any animal most of us have yet seen.

It just doesnt seem to be enough that Apple is superbly run, cash rich, and has the best products in both computers and personal devices... products that are well ahead... lets say this right...quite clearly way out ahead of everything else. Their smart phone products, and smart apps infrastructure are simply brilliant adjuncts and will continue to win growing market share for all of their devices. Analysts dont seem to understand that even if the economy sees only a partial recovery, as seems likely, the personal electronics space will continue to weigh toward obtaining the best your money can buy. The cheaper low end is not gaining market share and cheaper players are dicing up an ever shrinking slice of the personal computer and smart phone market. Most should have seen by now that the future lies clearly in more useful personal connectivity and in having at your fingertips a pocket device for all the information you need to get and store. Apple has won this battle handily. We are at the beginning of an era in this kind of living and a few of us are beginning to see the time for it has come and how big it is about to become.

Going back a bit, Apple introduced the first product of this kind many years ago, again it was way out ahead of anything else. Does anyone recall Steve Wozniak sitting on a park bench in a classic ad, with a then small Apple device in his hand trying to explain to us why we would need a personal device that will have all your needed information and do everything for you - possible at that time? This was I believe when the cell phone networking concept was merely a gleam in the eye of a communications team at Motorola. Yet in his hand Wozniak was holding the first such device... Apple called it the PDA. Again it was simply too far ahead of its time to take a significant hold.

Consider that what Apple offers the investor is unlike anything you yet seen. My advice is to not timidly sit by wondering how much further this company can possibly go... Have they amazed you yet enough so far and so early in this game?...

Jul 23 01:03 PM

[WillS:]

maybe a year or even less apple was at 180 a share..so going higher now is not a big deal


On Jul 23 11:51 AM Timeline Strategy Consulting wrote:

> Well Apple doesn't pay a dividend, so it would logically NEED TO
> GO HIGHER for anyone to want to invest. Duh.
>
> But I also take issue with your logic here, which is quite similar
> to what I heard when it was at $90, $110, $120, and now $158 today.
> I'm not saying that I know you'll be wrong, but you haven't exactly
> made that case that suggests that you are a credible predictor of
> the future.
>
> If I look into the future, 6 months, 12 months, I see Apple at $200
> a share. Maybe $250. How it gets there is the question.

Jul 23 01:16 PM

[Beyond Trading:]

not everyone has the same opinion:
seekingalpha.com/artic...

Jul 23 01:20 PM

[PCScipio:]

Thanks, BT. The Apple fanboys were hurting my head.

Jul 23 02:22 PM

[nukldrager:]

Good point. Windows still seems to be the os for people who write code, but but beyond that OS X is smooth sailing by comparison.

...
> PS: Now that the iPhone is Exchange compatible, it's ready for the
> boardroom. Windows 7 will be a difficult upgrade so some businesses
> will switch to OS X, for simplicity and security.

Jul 24 10:08 AM

[brewer:]

Actually, iPhone coding is really hot right now. You need a Mac for that.

Jul 24 12:13 PM

[zawy:]

Two on the show also said "with 9 analysts saying it will go higher, it makes you want to automatically sell." Last year blackberry users were saying they would never sacrifice a thumb-board. Now reviewers are saying they will not go back. It appears to me the game has already been won: software makers of all sizes are full steam ahead on producing programs for the iPhone. 2 years of profits form AT&T contracts are not even figured in yet and were double the reported profits. 5 times as many sales over the prior year, and the new device and lower prices were only in the last 2 weeks.

If any non-techie wants a good, simple pocket computer, this is it. they will choose iPhone.

People still have not come to terms with what a pocket computer really means, here's a partial list.
phone - calculator - calendar - email - notpad - contacts
stock tracker - trader
camera with video (soon teleconferencing)
TV with autoprogramming
compass - GPS - map - kid tracker/emergency response
wikipedia in your pocket
remote control of your desktop (VNC is easy and free)
yellow pages
piano, flute, inclinometer, ruler
weather - news - sports
language leaner - translation
...and oh BTW, it also has a good internet browser, GAMES, soon every book and magazine ever published, and MP3s.

Books, movies, magazines, teleconferencing, and MP3s provide another level of potential profit. Google with as an open source competitor across all devices will be 5 years years behind technically, and 10 years behind on bells and whistles and popularity. Blackberry niche is fading as fast as Palm and Nokia.

Jul 27 12:44 PM

[JW.USC:]

Not everyone has an average IQ.


On Jul 23 01:20 PM Beyond Trading wrote:

> not everyone has the same opinion:
> seekingalpha.com/artic...

Nov 09 04:33 PM