Apple’s Stock Soars Past $150 On Word They Don’t Just Sell Phones
The past week or so there has definitely been a feeling of letdown surrounding Apple and more specifically, the iPhone. This was probably to be expected given just how huge the hype was for the device both pre and post launch. But it also apparently tricked investors as they sold shares based on some lukewarm iPhone news brining the stock from the $140s down to the $130s.
I say “trick” however because somehow all these investors seem to have forgotten that the iPhone is just a side project for Apple (though a big one) – they have two other solid areas from which they can make money, the iPod and the Mac. For the past years it seemed to be the iPod driving the success of Apple, but this past quarter it was the Mac that drove the company to another absolutely huge quarter. Not surprisingly Apple’s stock has now skyrocketed past the $150-a-share mark for the first time in after-hours trading.
How can you not be bullish on a company when they have 3 solid departments, any one of which can turn huge profits for the whole company? Just imagine if the “4th leg”, Apple TV, is able to take off (which it would if they do something like iTunes Movie Rentals).
I’m just pretty shocked that one of the most hyped companies out there, Apple, was able to trick investors into being so narrow-minded. 12-months ago no one was looking for a phone to drive Apple profits and they shouldn’t have been now. Apple is a solid company through and through, the iPhone is just desserts.
