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Wednesday, July 13, 2005

Apple crushes, UPODs - will trade up (AAPL)

Apple crushes (predictably). I talked with a colleague the other day who asked me, "When does Apple break down?" I told him that it didn't because it's a strong company and is actually very cheap on a cash-flow basis for a growth company." He didn't like that answer. I think he's short. Too bad. Besides, when is the last time you heard a growth company was cheap on a Cash Flow from Operations basis? Exactly.
The skepticism of the institutions here tells me that the company has additional buyers. If they have another strong quarter, then these guys will have to flip, providing another push on valuation. Good thing I juiced with calls today before the close! I love being right.


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