Quick iPad and AAPL Update
After Apple announced that more than 300,000 iPads had been sold on the first day, the stock was definitely heading upwards right from the start this morning but it didn’t quite make it to a new high, it teetered between $234.77 and $238.51. I had a chance to look at the iPad on Saturday and I honestly did not find it that much different from my iPhone other than the size of course. It was very easy to use since it behaves the same way as my phone. Personally, I don’t intend on buying one but the store was sold out so there was definitely enough interest in it. I must say that I’m really not a good judge of what a great product is. For example, it took me a while just to be receptive to the iPhone but once I saw enough people using it and very satisfied, I was totally sold and I had to have one. That and the fact that the screen in my old phone completely died. With the stocks I buy, I try to do some on-site research as much as I can. This is especially true and easy for retail stores, I can always walk into the store to get a sense of what I’m investing in.
There were also two analysts that raised the target price for the Apple:
1) Canaccord Adams, $250 to $300
2) Kaufman Bros, $253 to $295
Both of these analysts have followed the stock since late 2008 when it was less than $100 and they’ve been generally bullish, which means they’ve been correct and consistent.
Hope everyone had a Happy Easter weekend!