Saturday, January 5

Buy Apple

The stock market is in decline, and that's good for people who want to make some money on a sure thing. Apple Inc., the company that makes iPods and computers and cell phones has fallen from almost $200 to around $180 per share over the past week. I'm going to see if it goes any lower, then buy a bunch more shares. Why is the stock falling? Because the government released its jobless figures and unemployment is now 5%. Reports like that scare the living daylights out of traders, the people who buy and sell stocks on very short cycles. As far as I know, Apple doesn't depend on unemployed people to keep up their sales momentum.

Buy-and-hold stockholders like me dive in and scoop up the scraps left on the floors of the stock exchanges. I have never sold a share of Apple since buying in at $7.50 a share several years back. When something ends up worth 25 times what you paid for it, who would? Traders who don't make a profit in a week, that's who. Thanks, traders. Have another Rolaids and a super-sized double-shot espresso! On me! (Just kidding.)

1 comment:

Barfo said...

My stocks widget tells me that today it's down to $172.69, but it galls me to buy any more at that price. Apple was the first stock I ever bought, back in 2000 when it fell like a stone down to about $15 a share. Had I only known then what I know now, I'd have mortgaged the homestead and put it all on Apple.