Apple (AAPL) hits $208, bounces back

Note to world, the ChiPhone is no longer a disaster and it wasn't one to begin with 3-5 million on the black market.

Remember though, trade the market in front of you.

I have a 12-month price target of $300 for AAPL. Based on overall market conditions, the current rate of growth and continued excellent execution of new and refreshed product introductions, I can see AAPL's share price between $400 and $500 within three years.

The iTunes store franchise and the roll out of new retail stores in EU countries (with a commensurate rise in Macintosh market share) are among the reasons for my bullish calls.

With over $30 billion in cash, an exploding iPhone sales picture and extraordinary sales growth opportunities for the Mac in Europe, there's plenty of upside remaining in AAPL in my opinion.

I'm not a professional analyst nor a stock advisor, but I see plenty of share price appreciation potential in AAPL. Every investor needs to do their own due diligence but I'm partial to AAPL for the above-mentioned reasons and more.

In my view $200 per share will only be seen in the rearview mirror in the months ahead.

Not really. Of all the numbers it is a bit fascinating that Apple hits $208.00 and bounces back. Not 208.01, not 207.99 but $208.00. Kind of makes you believe that this thing is rigged in the short term. He didn't pull a JIm Lamer and say sell at $208.00.

Apple is going to have to struggle like hell to keep it's stock price up above $205. They'd better guarantee they can sell 10 million iPhones this quarter in order to do that. Apple is going to get heavily beat up now that the ChiPhone is considered a sales disaster by the analysts.

PED, why do you write about the stock price?

You know you are just going to get beat up by all the speculators who think you are trying to manipulate the share price.

I think you like it. I think you want it.