In anticipation of new product announcements, shares of Apple have rallied lately and are surging nearly $3 today to more than $72 each. For those of you who did some bottom fishing in the 50's, I think it may be wise to take a few chips off the table. The company's outlook remains very bright, and growth managers will want to own the stock, but I think a lot of good news is being priced into the shares. Any disappointments regarding the specifics of the company's new products, and we could see some of the recent gains given back.
Apple remains one of the most attractive growth opportunities in the technology space. I just think after a 30% rebound from the lows, slight profit-taking might be in order as investor demand right now is quite elevated.