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Dave,
Jul 22 22:03 pm
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All Comments by Ben S. »Why I'm Shorting Apple Ahead of Earnings [View article]
I don't especially have the time to do some LT analysis on AAPL right now, but I could definitely see the stock getting cheaper over the ST. The rally that we saw from 147 I believe was a bit premature. The questions still remain with GM, falling ASP in iPod and Mac, etc. I wasn't entirely sold on Q3, especially with guidance on gross margin.
I'm guessing I'll piss off more Apple enthusiast, but I think we are going lower, at least until the "new product" is unveiled. At 33X earnings in this economic environment I'm not buying. I think it will get cheaper.