I bought Apple on 29th April 2013 at $61.29 as it seemed simply undervalued and beaten down simply because people wanted to dislike it and so many people around me saw its products as aspirational and all they wanted to buy was an iPhone, an iPad and a MacBook.
I think over the intervening period I was proved right and eventually sold out on 16th May 2016 at $92.45 missing the peak of around $130 but still happy with my 50% profit over three years.
I sold because sentiment seemed to have changed towards the stock from a company that could do no wrong and would go on forever innovating and producing new products that we didn’t know we needed. I certainly think that the release of the iPhone 7 confirms this. Apple has lost its way but I don’t blame Tim Cook. It simply that in its space you can’t simply go on growing and producing at the rate Apple did in the past.
- I am still using MS Office 2003
- My Dell laptop is 6 years old, drives three screens and has 2Gb hard drive space
- My iPad 2 Air does everything i need
- My iPhone 6 is near perfect save for battery life
Why would i upgrade these or buy a new product?
I am therefore happy to be out of Apple for now but could see myself re-buying in the future if the price drops sufficiently. It is still a great company.