The CNBC Fast Money gang are in lock step on Apple. The attention span challenged traders have been sticking to their “buy and hold is dead” mantra and are recommending a sell on Apple (AAPL). What’s their rationale? Paraphrasing from panelists’ comments during the last two shows: “Apple has run up too far, too fast” … the Apple earnings beat is already “priced in” and the are “no new catalysts” to move the stock.
Huh? Weren’t these the very same guys who repeated the same hack lines (too far, too fast) when Apple was at $115? …at $105? …at $95? Yep! Last night one panelist suggested that he’d buy Apple (AAPL) on a retrace to $100. In other words, he’d buy at a price where he was saying “it’s gotten ahead of itself.” Confused yet?
What I haven’t heard the Fast Money gang say is that Apple (AAPL) had been pushed down too far, too fast! Apple was above $200 in 2007 and traded in the $190 range in 2008 before being pushed down to $83 in the midst of Steve Jobs’ health rumors and other Apple FUD (Fear Uncertainty and Doubt) stories that were actively pumped by Street players.
This morning we learned that CNBC Fast Money panelist and iPhonAsia reader, Jeff Macke, has now sold his entire “iPod’s worth” position of Apple (AAPL) shares; “I was weeping like a schoolgirl, but I’ve now sold Apple (AAPL).” Jeff suggested that Apple’s great earnings beat is now fully priced into AAPL (hovering at $125 today) and as Macke put it; “I just don’t see any catalysts for the stock (AAPL).”
The Fast Money team can sometimes get distracted keeping track of their “in-and-out” trades, so we thought we’d help out with some basic research. With assistance from members of the AAPL Sanity message board, here are a few catalysts that can move AAPL in 2009:
- One billion apps downloaded from the iTunes App Store
- 35,000 applications (apps and games)
- Snow Leopard, new Mac OS X
- Steve Jobs coming back at the end of June … Boom!
- New iPhone models very likely to be unveiled in June
- iPhone OS 3.0
- iPhone in China announcement soon
- Possible iTablet device (larger than iPhone, smaller than a netbook)
- New content deals with major publishers that will expand eBooks in iTunes
- New education partnerships and expansion of iTunes U
- Smartphones are gaining marketshare
- Gaming on mobile handsets is exploding (pretty fun on iPhone, iPod Touch and device to be named later)