Re: Apple stock hits all-time high!

ed wrote:
On Oct 2, 1:20 pm, Snit <C...@xxxxxxxxxxxxxxxxxxxxx> wrote:
"JCrowe" <bongof...@xxxxxxxxxxx> stated in post
vGxMi.8$Pv...@xxxxxxxxxxxxxxxxxxxxxxxxxx on 10/2/07 1:16 PM:
<snip>
In a year ya'll can either gloat or wail, but I'm predicting that
Apple's stock price will either plunge in the next year, or that a price
of $300 a share will be cheap due to currency devaluation. The current
stock price for Apple is due to "irrational exuberance" on the part of
speculative investors.....no doubt paying off well for some people but
on the other side of the fall, lots of people who bought at the peak
will be losers. The fundamentals are not in place to support such a
share price. Don't get me wrong, I want Apple to succeed and I hope that
in that process, Apple does not become more like other companies that
became too big to value customer satisfaction.
I would not be surprised to see a pretty substantial correction sometime in
near future.

based on what?

The current manipulations of the Fed, which are desperation moves
to attempt to correct for earlier screwups. What people are seeing
right now is pretty severe devaluation of the dollar WRT other,
essentially weak currencies. This is a disturbing result of how the
Bush administration has attempted to borrow its way out of funding
the wars in Iraq and Afghanistan. The corrections in the stock market
could be a repeat of the dot.com bust, but this time triggered by other
malinvestments...specifically in the real estate markets. For a more
personal observation, just go to the grocery store and price a sack of
normal groceries. If you do so over even a month, you will notice the
effects of currency devaluation. It's all related. To see Apple shares
priced at $158 in late 2007 is a two-fold error in valuation. First of
all, the price to earnings ratio does not justify such a price and
second, $158 in late 2007 is not equivalent to $158 even in 2000. Do
the math. That said...I still think Apple towers over the likes of
Dell, HP etc as far as PCs go, in quality, design and software.

<snip>

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