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Chris Whitmore, take your perp walk. Apple's (AAPL -0.7%) failure to hold $600 is blamed on the...

Chris Whitmore, take your perp walk. Apple's (AAPL -0.7%) failure to hold $600 is blamed on the Deutsche Bank analyst who proclaimed around midday that AAPL's parabolic rise had gone too far. Whitmore made clear his firm was just taking profits after rising 50% since October. Many Streeters share the skepticism, but they've been burned too often in the past to say so.
Comments (18)
  • I imagine they took profits back at 100, 200, 300, 400 and 500. They'll be back in and ready to take profits at 700 too.
    15 Mar 2012, 07:17 PM Reply Like
  • Aapl is trading at 11x forward earnings vs S&P at 12......you do the math....the way to think about aapl is divide everything by 10.

     

    These big numbers distort many people's thinking. Today the range was over$18....but really $1.80.

     

    Does that help......

     

    PS: wait till you see the IMac bums!

     

    We will just luv em......talk to any dealer.
    15 Mar 2012, 07:22 PM Reply Like
  • Nothing wrong with taking profits or getting back in when you do!

     

    If you are trading stocks and say you have never been burned, “you are lying”
    15 Mar 2012, 07:31 PM Reply Like
  • Whitmore the analyst making predictions, everybody has an itchy finger to take profits. The products and their adoption are now establishing a new standard, there is no going back ever to the dell/windows systems. Apple has the potential to be so huge it's unbearable. $700 is only a transit price. The addressable markets are many and massive.
    15 Mar 2012, 07:43 PM Reply Like
  • Totally agree Joe. It is also true there are different investing styles here. As an individual investor, taking profits = paying taxes = having less cash in to enjoy the ride with. So I listen to the investment houses opinions with a grain of salt.
    15 Mar 2012, 07:55 PM Reply Like
  • Minnesota_Steve
    Please pass the Salt Shaker ...
    15 Mar 2012, 08:11 PM Reply Like
  • passed
    15 Mar 2012, 08:17 PM Reply Like
  • Earnings coming soon
    I see it at 750-800 around that time
    15 Mar 2012, 08:36 PM Reply Like
  • Nothing is more dangerous than group think.
    15 Mar 2012, 09:29 PM Reply Like
  • What's your point? There is a group of Bulls here, but there are plenty of Bears.
    15 Mar 2012, 09:53 PM Reply Like
  • Regardless of any perceived groupthink, Apple is making money and tons of it. Do you dispute facts?
    15 Mar 2012, 10:19 PM Reply Like
  • except thinking alone!

     

    god trading
    17 Mar 2012, 12:04 PM Reply Like
  • I'm 100% sure AAPL's dip was not because of one analyst. Humans think alike. A nice even level of $600 is a perfect sell point. That's all it was. Now we get to see just how bullish AAPL investors are. Will they send it above 600 quickly or will 600 become a tough ceiling that will take a strong earnings report to break through. This is the fun question.
    15 Mar 2012, 10:36 PM Reply Like
  • I agree. The thesis of the note seems flawed.
    15 Mar 2012, 10:55 PM Reply Like
  • Wa iting for pullback to 550 after closing position on tues @593.72
    16 Mar 2012, 12:52 AM Reply Like
  • I think this same conversation occurred a little bit ago when Apple hit $500? What happened?
    16 Mar 2012, 12:56 AM Reply Like
  • Analysts always underestimate Apple and Apple keeps rising. Nothing has and nothing will change now Apple is selling phones in China in a big way.

     

    Still Long AAPL
    16 Mar 2012, 04:01 AM Reply Like
  • A Bank analyst takes profits. The analyst immediately says he has taken profits. Is the analyst doing this to drive down the price further? If it does he looks good. And when it continues to go down he can buy at a lower price. Mind you, this analyst is NOT TRYING TO MANIPULATE THE PRICE OF APPLE.
    16 Mar 2012, 09:53 AM Reply Like
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