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Old 08-04-2011, 07:38 PM   #21
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I don't know if it will hit 800 anytime soon, but I do believe it is quite possible and actually probable that it will hit 500 in the next year. So I picked up some in the 380's and some in the 370's today.

I also told my daughter and son in law to buy some and hold it for the next 20 years. They will be very happy at that point to see how much appreciation occurred.
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Old 08-04-2011, 08:53 PM   #22
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I bought a whopping 100 shares of AAPL around Nov/Dec 2001 for about $1875. Sold 100 shares after the split in 2005 around $38.75 to get my initial money out (actually double my money). Kept the remaining 100 which is now worth $39,200 $37,600 (today's close). While my career was in the tech industry and I am a tech guy, my rationale for the purchase was:
1. They had about $13/share of cash and equivalents on a sub $19 stock. This is reason #2 and reason #3 also.
2. Steve Jobs was back, and they were doing interesting things in terms of the mac OS.
3. While losing market share to Microsoft and losing money, I seem to remember they weren't burning though cash all that fast and I figured they had some time. See reason #1.

My rationale for selling after the split was to get my initial investment out. Stupid is as stupid does.

I've kept the remaining stock since then because while the stock has had wild variations, the underlying trend (since the ipod) hasn't changed...when it does, hopefully I will be smart lucky enough to realize it. (I did also play the stock during the market meltdown, trading it a couple times short term and making a few $.)

While I am extremely happy about the investment, man oh man I wish my initial partake was 1k shares or ...

Selling 1/2 of AAPL certainly wasn't my biggest mistake, by far. A long time ago I bought 100 shares of Stryker (symbol SYK) for about $2k. This was shortly after they had gone public and was one of my first investments. I sold ALL OF IT around 1988 or so (can't remember) and was happy to have made some money on it (triple or whatever). That initial investment, if kept, would now be 16,200 shares @ about $50/share = $810k. Ouch. (And that doesn't even account for the dividend stream over the years.)
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Old 08-24-2011, 06:59 PM   #23
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Steve Jobs Resigns as Apple CEO - WSJ.com

The end of an era. What a turn-around story.

Hopefully, his health is good enough that he gets t spend quality time with his family. With the iPhones and iPads out and taking the market by storm, this is probably a good time as any to take a break.

Anyone looking for inspiration, just google his speech to the Stanford graduating class. In a few words, he really ties the loose ends of life together.


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Old 08-24-2011, 07:25 PM   #24
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Other than brief handshake I never talked to the guy personally. I did go to a couple of Apple product launches where he talked, the Macintosh launch being the most memorable. So I was a casualty of the Steve Jobs reality distortion field. Which is what I and many of his other detractors said. The day after going to the Mac launch me and several other at the software company we worked for want to the CEO and demanded that we get an opportunity to buy Macintoshs, the CEO, a personal computer pioneer, called Apple I got a very early Mac, with 128K memory, and weird floppy drive.

However, over the last 15 years I have grown to respect not only his ability to distort people perception of reality, but to actually change reality. While I am not a fan of Apple products, (they are unintuitive to me) clearly the world has greatly benefit from them and the innovations that have made.

I hope he dies an old man.
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Old 08-24-2011, 08:02 PM   #25
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And now all the Berkshire shareholders get to do a dry run of Buffett retiring.

I hope Mr. Jobs has a lot of miles on him yet, but I fear this is not the case.
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Old 08-24-2011, 08:12 PM   #26
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Originally Posted by brewer12345 View Post

I hope Mr. Jobs has a lot of miles on him yet, but I fear this is not the case.
I hope he does too. He very likely may not, but as I said earlier, with the iPhone and iPad success stories, the fact that for a time, AAPL had more cash on hand than the federal government, and AAPL's market cap made them #1 in the US.... what better time to leave?

Apple crowned No. 1 with biggest market cap - MarketWatch

Quote:
... Apple’s overtaking of Exxon “really fascinating, particularly if one looks at where Apple was, say, 10 years ago.”

At that time, Apple was ranked No. 287 on the S&P 500 Index
Anything new in the pipeline would take a few years to e established as another market success, and there's the chance it might flop. Go out on top if you can.

Wishing him all the best (as I type this from my Linux/Ubuntu computer!).


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Old 08-24-2011, 08:13 PM   #27
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And now all the Berkshire shareholders get to do a dry run of Buffett retiring.

I hope Mr. Jobs has a lot of miles on him yet, but I fear this is not the case.

I was thinking that also. I wonder if we will see sympathy selling on Berkshire. This sounds ghoulish, but this week I started to look at writing cash secured AAPL puts I think they'll get pretty expensive. So the timing couldn't be better for me.
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Steve Jobs resigns
Old 08-24-2011, 08:13 PM   #28
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Steve Jobs resigns

I didn't see this yet; my apologies if a duplicate.

He was a borderline tyrant and supposedly difficult to work with.

Yet he was focused and changed the world in more ways than any recent CEO I can think of. Changed forever were:

- advent of personal computers (Apple II)
- graphical user interface (Macintosh)
- transformation of the publishing industry (Laserwriter and Desktop Publishing)
- transformation of the music industry (iPod and iTunes)
- transformation of the cellular phone industry (iPhone)
- transformation of tablet computing (iPad)
- nurtured Pixar to great success in animation

Where most CEOs worry about finances and accounting, Steve was intimately involved in product design.

One of Steve's quotes:

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary”
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Old 08-24-2011, 08:39 PM   #29
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AAPL
Time to sell.
"But the culture will live on..." Folks who understand the whole Apple story and how innovative technology works know that this is not true. Steve Jobs is not replaceable.
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Old 08-24-2011, 08:50 PM   #30
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AAPL
Time to sell.
"But the culture will live on..." Folks who understand the whole Apple story and how innovative technology works know that this is not true. Steve Jobs is not replaceable.
I think Jobs eventual departure was probably factored into the stock price. But I do agree, he really isn't replaceable, which Scully proved in the 1980s.
The story of Intel and Microsoft after the departure of Andy Grove and Bill Gates are maybe further proof.
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Old 08-24-2011, 09:04 PM   #31
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Originally Posted by Free To Canoe
AAPL
Time to sell.
"But the culture will live on..." Folks who understand the whole Apple story and how innovative technology works know that this is not true. Steve Jobs is not replaceable.
Eh, not so much. I'm pretty sure the culture will live on. There have been steps taken over the last decade to establish and maintain the Apple internal culture independent of Mr. Jobs.

The last thing anyone there wants to do is pull a Microsoft.
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Old 08-24-2011, 09:44 PM   #32
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I think that the indefinite medical leave announced in January was really the announcement that markets reacted to. I think we all expected some announcement like this eventually.

I wish Mr. Jobs well and hope that he is around for a long time.

He deserves early retirement to take care of himself.
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