I sold all my shares of Apple after close last night when the stock hit $503.41 per share. I bought my shares on October 18, 2011 at $399. I decided to sell as AAPL hit the $500 mark because I feel the stock is due for a pullback. AAPL currently pays no dividend and is quite volatile, so I consider it a trading stock and not a long term buy and hold.
FYI, Apple was my best investment of 2011, and it is tops so far in 2012.
After reading ‘Steve Jobs’ by Walter Isaacson I have come to the conclusion that no one can keep Apple moving like Steve. No one has the balls to be in your face about design and functionality.
Therefore I have come to the conclusion that this is the last great year for AAPL. After the product pipeline has run its course, who at Apple will invent the next great thing we don’t have but won’t be able to do without? Will Tim Cook be the next Steve Jobs? No way. Will Mr. Cook keep his staff of ‘A’ players on their toes like Steve could. I don’think so.
If Apple does break into the Textbook Market or some other large market, I will be a buyer of AAPL, but until I see something really new and fantastic, other than the iPad 3, or the iPhone 5, I don’t see Apple continuing its invention run of greatness. So I’m out for now. But I will be watching.