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Is Apple the Greatest Growth Stock Ever?

|Includes: Apple Inc. (AAPL)
Some tout Apple as the greatest growth stock ever.  Others predict its rapid rise to slow.  If you own Apple, what to do?  Is it too late to get in on the bandwagon now and chase AAPL further?

Here’s my take. Sure, Apple’s a winner and there’s still growth in the stock for the near term.  Analyst targets average around $300, with highs at $350+.  If you’re long AAPL, I recommend sell orders at $301.  If you’re not already in AAPL, buy on dips and ride it to $301, then sell.  AAPL becomes too volatile above $300 and any number of factors could stall the current ‘Apple over-exuberance’. None of us know how to estimate the projected iPhone and iPad sales. They could blow everyone out of the water and beat earnings estimates or they could have a minor slip up sending the stock lower. Who knows? The best scenario would be for AAPL to do a 2-1 or even 3-1 split to make it a more attractive/less risky play to investors.

Does this $301 sell price risk missing an even bigger run to $350 and higher?  Possibly.  But you’ll have already profited nicely at $301 and can afford to take a pause.  If AAPL then looks to break out to a higher range, then get back in at $316 and ride it out.  OK, you’ll have missed $15 of price gains, but I think the risk/reward makes this a prudent strategy in the current economic climate.

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Disclosure: "Long AAPL"