Sunday, January 8, 2012
Selling Apple In October Wasn?t The Best Move, But Not Buying Google Was Worse
MG Siegler argues that if you sold your Apple stock last October, right after the company's Q4 2011 earnings report, you are an idiot and/or a moron. After all, Apple's stock price closed at $398.62 on October 19, and it closed at $422.4 last Friday (a respectable 6 percent bump). So selling your Apple stock that day was idiotic, right? Maybe, maybe not. Flamebait headlines aside, for all we know you could have been selling Apple stock you acquired back in 2000, in which case I daresay you were a true visionary. Of if you spent the money to buy your kids and spouse some nice Christmas gifts, or treated yourself to that plane ticket to Cambodia or whatever. Reality is that, yes, Apple stock was oversold that day, but I'll be damned if I'm calling anyone an idiot over doing it if I don't know what you did with the money.