NASDAQ:AAPL – Apple Stock Prices Plunge With NASDAQ
The overall markets today have taken a beating and have plunged nearly 5% throughout the trading day. The NASDAQ is currently down 4.54% at 2,293.26, the DOW is down -4.15% at 10,416.71.
So right along with the NASDAQ plunging, Apple shares (NASDAQ:AAPL) are taking their share of the beating as well despite strong iPad sales on both the WiFi version and the new iPad 3G.
Apple shares are currently down almost 5% as well (-4.55%) trading at $243.74 which is a 12 point decrease for the day.
Jim Cramer says “buy, buy, buy!”
The illustrious stock commentator Jim Cramer of Madd Money believes that Apple is a “Buy, Buy, Buy!”
I’ve asked the question before, do you think that Apple shares are heading to $400?
In my opinion, I think that $400 within the next 12 months is easily achievable for Apple. After all, we just had the launch of the iPad WiFi and the iPad 3G here in the United States. But on May 10th (Monday) the iPad will launch to the rest of the world.
Also we have potential upcoming announcements of the new iPhone 4G, and more than likely announcements of the iPhone being sold on other carriers such as Verizon.
And don’t forget about iAd – Apple’s mobile advertising platform. It is believed by some analysts that iAd revenue could potentially reach an annual run-rate of $800 million in revenue by the end of fiscal 2010.
So I think that Jim Cramer is looking at it this way – the stock is down along with the rest of the market. And with the share prices dropping below $250, Apple is a certain buy for long term investors.
What do you think?
Do you see Apple as a buy at the current price of below $250?
Do you think Apple will climb to as high as $400 within the next 12 months?