In Steve's Shadow
Steve Jobs was once judged to be worth 40% of the Apple stock price;the most valuable CEO of them all. That would equate to $100 a share at current levels. Anyone reading the authorised biography of Jobs by Walter Issacson or the unauthorised "iCon" would certainly get the feeling that Apple will not survive with its market stardom intact for long without the triple crowned genius of Steve. However, while looking pretty shaky, the stock has not tanked like Greece, Italy, Spain and a lot of markets and stocks all over the world. The idea is that Apple has DNA and, like Obi Wan, somehow Steve Jobs is stronger now than he ever was. Nice trick if you can pull it off.
Bumpy Ride?
The last few weeks of market volatility have made Apple look bumpy and it is at the bottom of its channel, which if it broke down through would be ominous. At the beginning of 2008 Apple was $100, it is now $400. Somewhere along that rise, about in the middle, Apple became very highly valued but with many justifications. Perhaps if I call the top long enough, one day I'll be right and there are a lot of factors saying Apple has seen its all-time high.
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Clem Chambers is CEO of stocks and investment website ADVFN. For free real-time stock prices go to: www.advfn.com
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