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I acquired AAPL stock at prices ranging from $120 to $205. I had a sell order for about a third of my holdings at $250 but as the stock rose, I raised that to $275 and as the stock approaches that value after 600,000 iPhone 4 sales on day 1, I want to raise that to $300.

Should I be greedy or should I sell 1/3rd of my holdings at $275? I have been greedy before and lost money on NBF - a now defunct company. I have been greedy and made money on the India Fund - IFN.

But with AAPL right now it is a hard decision. But I might just let the order stand. As analysts "scramble" to raise targets, I wonder how big can Apple get? With a current market cap of about $245 billion, has Apple grown too big?

The iPhone4 managed to withstand all competition and iPad managed stellar sales despite the criticism. Will the iPad2, the iPhone5 and whatever else Apple has in store continue this trend? Will other manufacturers catch up and make a dent in future sales? Will people get fed up of AT&T (NYSE:T) and just move to some non-iPhone carrier?

Looking at it differently, Apple's P/E is 22, which is only slightly higher than the 21 P/E of the Nasdaq in general. Considering that Apple seems to be a great buy at even current prices. The possibility that the iPhone will hit other US carriers and that it will continue its global expansion make Apple all the more attractive.

Either way I think I'll take some profits now and if Apple ever falls below the $250 levels and things still look bright, I'll buy it back.

Disclosure: Long AAPL

Source: Should One Be Greedy About Apple?