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Tuesday
Jan182011

Cry About Sir Steve If You Like, I'm Buying More AAPL

With "Fearless Leader" Jobs taking his second leave of absence in so many years, the stock market is acting like panicked school kids who've seen a snake on the playground.  Apple stock (AAPL) is down almost $15 this morning on the news.  I'm watching it closely.  Why?  I'm gonna buy some more.  I hope it drops more.  I love a bargain!

Don't think for a minute Apple will lose its astronomical momentum because of this leave.  At least not any time soon.  Apple (with Mr. Jobs) has its business roadmapped for several months at least.  The company will continue to mint money for the foreseeable future with or without Sir Steve.  Remember, this isn't the first time this has happened.  It wasn't a catastrophe in 2009 and it won't be one in 2011.  Tim Cook knows what he's doing.

Also, don't forget about today's quarterly earnings call at 5 PM EST.  If things go as expected, Apple will beat analysts' projections by a wide margin.  None of these analysts have lowered their price targets of $450.  If I can buy Apple stock in the low $300 range, I'm gonna do it!  I'll take a 33% gain any day of the week.  There may come a time to be concerned by Mr. Jobs' absence, but it isn't right now.

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