Friday, February 1, 2013

I can't prove it, but I think someone is manipulating Apple stock

Last week Apple announced quarterly earnings that were the 4th largest ever recorded. This is over a year after the passing of Steve Jobs, an event everyone thought would mean the demise of the company. In return, "the street" knocked 12% of the value of Apple's stock price. Say what you want, that makes no sense. I can't prove it, but I would not be surprised if someone made out like a fat rat.  The stock has slowly rebounded since this crazy drop.  By contrast, Amazon's earnings fell short of analyst's expectations... and it rose.  Yeah, The Street is logical.

Anyway, I missed the sub $20 price, but at about $29/share, I think Facebook might be a good stock to buy. I don't know what their expected earnings are going forward, but the fact that in the span of about 4 months they've risen about 50% after dropping 30% from their IPO price says to me that investors are behind them. 

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