If you have never been to an Apple store, you are missing something. In terms of retailing, the amount of revenue that comes from Apple's stores on a per square foot basis (an often used metric for retailers) is the envy of everyone. Today, when Palm reported earnings that missed Street expectations due to disappointing Trio sales, RIMM also sold off while Apple just kept chugging along to another 52-week high.While selling in RIMM may clearly be an excuse for profit taking (we will know for sure when they report on Thursday), it looks like the Street is expecting a LOT from Apple when Q3 earnings come out.
Right now, I would have expected AAPL to sell off a little to relieve the overbought condition technically. I would not add to AAPL at this point and wait for a dip. If you are already long, just enjoy the ride.
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