|[5:00 PM] Buy Low: Mac Observer Stock Watch Virtual Portfolio Buys More Shares In Apple
by Wes George
The Stock Watch Virtual Portfolio took advantage of the recent weakness in Apple's stock today to buy another 50 shares of AAPL at $89 to add to the 200 shares we already own at an average cost of $116.75. The new average price for our AAPL holdings is US$111.20 with 250 shares.
IBM's announcement that they will begin G4 production with their new silicon on insulator technology should eliminate fears that Apple is losing the MHz war to the Wintel cartel. Moreover, with Apple's PE ratio at 22 and strong earnings ahead for the rest of the year, this seems like a good day to be a contarian.
Note that the Stock Watch Virtual Portfolio is just that--virtual. The portfolio is The Mac Observer's experiment in building a collection of high tech aggressive growth stocks. However, we aren't playing with real money and our decision to buy or sell a stock should be in no way construed as a recommendation for you to do the same with real money.
For infomration, check out the current Portfolio holdings.
Mac Observer Stock Watch Virtual Portfolio