I have been trying to decide on my next stock play to diversify my portfolio even further.
Looking through technology companies and trying to decide on who to buy has been difficult. I really like so many companies from (GOOG) google with their new android phone and powerful intellectual base of employees. Netflix has also interested me as I see many flocking to their service to help reduce cable tv bills and the masses wanting to dump cable and go to using the internet with a movie subscription service like Netflix.
There are just so many cool technology stocks out there. I have always loved Apple Computer or Apple Inc. as they are now called since they are in so many industries now other than just computers. Apple Stock is what many people think is high or overvalued. I kept looking at it hard and realize there could be some market downside with this stock at almost $250 a share.
Most individual investors won’t think about buying at these prices. But I think even if we see a market down turn, the upside potential is much higher over the next few years and here is why.
Apple to me is my China play. They have 2 Apple Stores in China and I feel will continue to grow rapidly in this fast pace economy. They also are revolutionizing many industries and are the most innovative company around. There are many copy cats and everybody wants to copy Apple which increases competition, but they always seem to take the lead and dominate.
I really like the new idea of Apple TV and the social networking ideas of iTunes that they have just recently announced. Upgrades of the iPod and many other aspects of their business just has huge potential growth.
This company has an awesome balance sheet with no long term debt and cash galore. I think APPL is just too good of a company not to have it in my portfolio. I buy all Apple products and have the Apple iMacs, iPhones and am wanting to buy the new Apple TV device. I use their products and have fallen in love with all of their stuff.
Yes there are competitors out there, but I am sticking with Apple. I like the continual excitement of the company and Steve Jobs the CEO. The company is well managed and believe has a long term plan to thrive an excel for the long term. This is why I am adding Apple to My Portfolio and will accumulate on the dips.
I am only buying 10 shares and will update My Portfolio with the transaction performed this morning over the next couple of days. I got it at around 248 a share as it dipped a bit lower this morning. I am happy with the purchase and think this could be cheap compared to where this stock could end up.
My strategy would be if Apple does drop is to hold and buy more. I think it is a great time to get in the stock now at this price or lower as the stock was up to around 280 not too long ago and think it could easily pass the 300 a share mark.
More on Apple Inc. in later posts and you can always visit My Portfolio Page to see all of my stocks and the live portfolio.
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