Eyes on Apple Ahead of CES, Macworld

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Includes: AAPL, AVGO, BBRY, QCOM
by: Steven Towns

1. Apple (NASDAQ:AAPL) slipped 0.9% to $198.08 on the last day of trading in 2007, making it four straight sessions of failing to hold the $200 level. However, shares will likely re-test $200 Wednesday, as International CES and Macworld are rapidly approaching and product rumors churn (how about renting Disney (NYSE:DIS) movies on iTunes and an enhanced Google (NASDAQ:GOOG) Maps for the iPhone).

2. Research in Motion (RIMM) lost 3% to $113.40 on Monday, ending another volatile month of trading in which its shares fluctuated by more than 20% (note, the stock gained 160-plus percent in 2007). It seems there will be continued volatility in 2008, as RIM's relatively high P/E (ttm p/e: 59.5, f/p/e: 52.9 vs. AAPL's ttm p/e: 49.6, f/p/e: 39.4) and concerns over subprime fallout weigh against the huge potential of international expansion.

3. Following a U.S. District Court's issuing of an injunction against Qualcomm (NASDAQ:QCOM) related to three Broadcom (BRCM) patents on Monday, Qualcomm said it expects an "immediate, short-term impact," but also said it is reviewing its legal options, while it continues to develop workarounds.

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