Let’s get something clear here, people. Apple ($AAPL) is not a growth stock, it is a value stock. It made that transition years ago when they started paying a dividend.
When we approach the Earnings Date, however, the mindset of most people is the opposite. It has been clear for over a month now that the iPhone X sales number for the quarter will be lower than the ridiculous “consensus” expects. Delays with the OLED screen and facepalm-recognition software were well-documented by November. Yet Advisors and other “seasoned professionals” have been wringing their hands the past two weeks and the result has been a sharp decline in price from a lofty $180 down to $165.
Screaming buy? No, wait for a sharp drop on the earnings announcement as this one metric will drive the stock lower. I plan on selling a meager chunk of my horde of shares (I have been a buyer for well over a decade) on any significant drop, with the goal of picking up the same amount of shares at a discount once the dust settles and sanity kicks in. If my scenario unfolds as I hope it will, I will then take my winnings and upgrade my Corvette to the 2019 Grand Sport Coupe in Watkins Glen Gray Metallic. I play to win.
Back in October 2016 I said this: “BUY THE DIP – while you can, under $115 Average down if further weakness tomorrow.”
A month earlier on Twitter, I had eviscerated the worst tech journalist on the planet, a certain Jennifer Booton, who had been making a career out of Apple-bashing in her blogs and articles. Booton probably had a price point of $50 at the time Warren Buffett was sinking $1 Billion into AAPL stock. We actually had a Twitter War at one point. As the stock started to climb from sub-$100 I was merciless to the point where she blocked me on Twitter. Jennifer is gone now, relegated to a corner of the Interwebs far from MarketWatch – something called SportTechie – nobody can survive the beating Bozo Booton received in 2017. Am I gloating? Goddamned right I am, and to Jen, my best wishes on your new career writing about gadgets. I’m sure you’ll do a bang-up job and thanks for a splendid, real-life example of the Peter Principle in action.
The good news for MarketWatch is that they seem to be hiring more intelligent writers these days.
You can see where Buffett, the undisputed Master of Timing, sank one billion dollars into AAPL at the crosshairs on this chart:
Let’s see if I am right. Again.
In other news, The Unofficial SOTU Response from self-described “national socialist” (?) Bernie Sanders dissolved mid-speech and went offline for three minutes, a more perfect metaphore would be difficult to create. Perhaps Comrade Bernie hired a few DREAMers as his crack I.T. Staff.
And what puts a smile on my face the first thing in the morning like a new meme-worthy SOTU rebuttal that makes one forget all about Marco Rubio’s lunging for a bottle of spring water. BEHOLD Drooling Joe Kennedy. This ain’t your granddaddy’s Kennedy Klan.
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UPDATE: Sold some on a small spike premarket, bought back well under $166. May repeat this at market open. I’ll take a nice Brick Red interior on that automobile, please.
I dont have a twitter account, never was on twatter and certainly wouldn’t want to grace my handsome presence on that marxist pos platform run by censoring bolsheviks so I cannot really appreciate your beating up on Jennifer Booton but I am glad you set that dumbshit ass bleeding oversized tampon packing gender confused millennial (is she fat?) feminazi basement dwelling snowflake straight. Because that’s what the primeval patriarchal handsome virile masculine and robust alpha males (looks at himself in the mirror and adjusts his large balls) on ibankcoin always do, yes? well done. keep up the good work, dude.
With a three decade career behind me in I.T., nobody likes a female techie more than I do. Unless she is full of horseshit, then all bets are off.
Maven you should see the crew I work with. Young, dumb and … just dumb. Their solution to a code review was to disable the automated checker. Products of the public fool system.
You dropped Watkins Glen. There are wineries all up and down the finger lakes up there. Go get sloshed.
A www, he’ll, I am an old hand up there, my big brother has lived in the area for years. I met the legendary Dr. Konstantin Frank there once on the Fourth of July. It was his 80th Birthday and when I told him I had driven all the way from CT just to see his vineyards, he got up and went inside and came back out with a Reisling, uncorked it and poured my GF and I a glass as well as himself and we all sat in rocking chairs in the July heat and he told us all about his story of migrating from Russia. I vaguely remember something about an American flag, or flags…perhaps the place was adorned with bunting, I dunno. He was so proud to be an American and to have been born on the 4th was a great honor for him. We polished off two bottles that day, me, my girl, and that legendary old man. I’ll never forget it.