Sold Apple (AAPL)

Hello everybody, I sold AAPL ($258.59 14.00 +5.73%) today (4/21/2010) at $259.70. It was over $260 for about few seconds around 10 AM, but I missed the chance. I bought them around the end of January 2010 when the stock market was down in general at $199. The gain percentage is little bit less than 30%.

Current AAPL price is : AAPL ($459.68 4.56 +1.00% Live)

The company reported that earnings soared by 90% in Apple’s fiscal second quarter, ending in March, blowing past most analysts’ expectations.

From MarketWatch.com

For the March period, the Cupertino, Calif.-based company said net income came in at $3.07 billion, or $3.33 per share compared to net income of $1.62 billion, or $1.79 per share, for the same period last year.

Revenue jumped 49% to $13.5 billion.

Analysts were expecting earnings of $2.45 per share on revenue of $12 billion, according to consensus forecasts from Thomson Reuters.

I sold the stock because I think it was around mid $240 level for month of April with all the iPad and new iPhone OS 4. news. And suddenly it jumped around $15 (5~6%) today.

Also in the MarketWatch.com post, there is a mention from the company that the revenue is expected to be down to $2.28 ~ $2.39 for June quarter. It’s much less than current earning per share $3.33.

For the June quarter, Apple said it expects earnings to come in between $2.28-$2.39 per share, with revenue expected to be in the range of $13 billion to $13.4 billion. Wall Street had been looking for earnings of $2.70 per share on revenue of $12.97 billion, according to Thomson Reuters.

With that information in mind, I foresee that the stock price will come down to $240 range or lower soon. So I will buy them again when the prices comes to me.

Thank you for visiting my website.

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