“The chasm — the dichotomy — between those who think [the market’s] going to be good and bad is the deepest I’ve seen since 2007.”
From “Jim Cramer explains why he wants to buy shares of Apple and Nvidia” snagged Friday from CNBC Pro:
My take: For a guy whose mantra is “own Apple, don’t trade it,” Cramer sure sounds like he’s trying to time the market.
Apple reduces risk. Even if things go bad, they will suffer less. When the worries dissipate, they will do very well. In between, buybacks.
Customer loyalty, technology leadership, and integrity don’t go away. We own that by proxy.
Yep. Here’s a fun fact: Even now, Apple is up 91% from what it was 2 years ago. Other stocks, not so much. Amazon has been slaughtered, down 11% from what it was 2 years ago….
Rob Hall has as measuring stick the S&P 500. He regularly goes back to that. When earlier this year (I think) a reporter asked him, after a huge run-up of AAPL, whether Hall rating of NEUTRAL, still makes sense, he in full confidence said that in general AAPL has performed in line with the S&P 500 and consequently his NEUTRAL rating has proven to be accurate. (That’s one way to make a dark cloud look sunny.) Because he has the S&P 500 as his standard—incorrectly, I believe—he is wrong, but because he applies that standard consistently he can take comfort in the fact that at least he is consistently wrong! It may get him into the Hall of Fame. (Sorry, couldn’t resist.)
With you I believe that Apple is in a category of its own. So one constantly has to weigh its own merits, its fundamentals, against the global context.
Spot on.
I’m holding…and amused while doing so.
Panic rarely pays off.
For those Apple investors who are not currently subscribers to Apple 3.0, it’s an invaluable source of information to fully understand and appreciate the opportunity currently being presented by the schizophrenic market action. Much like the security blanket used by the “Peanuts” character; “Linus.” Only so much better!
Good point on Mr. Buffett! Folks who dumped AAPL are feeding the Buffetts of the world, who will stay long and get strong!
During these dips I go way long, way deep out of the money. Can you believe it? People will pay $7.32 for June 2024 $100 puts. How does that compute? Even with a 50% chance of Apple crashing (ludicrous), it would have to drop $85 just to break even.
Thats crazy good! I may do that too and just sock it away.
I usually sell my puts and calls closer to the money (not too close) and shorter in time.
“The definition of capitulation is when people sell what they love.”
A couple of days with volume at about 140 million shares on a stock with a float of 16+ BILLION is NOT capitulation; it is INVINCIBILITY!!!
I am not going to sell what I love.
I am not going to do something that I know to be incorrect.
Also, with a cost basis of $129 on my latest shares (purchased at an increased cost basis to replace charitable donations), $122 on my next most recent shares, (purchased for nonnumerical reasons) and from there dropping to sub-$12 cost per share, Apple would have to completely invert for the to lose actual money.
But paper money is also nice.
I do not look forward to Saturday morning’s Standard Work Metrics.
For me, it’s kinda like Musk’s obsession with 420. Just … different.