Yup. That’s what I think. Just don’t ask me when it will happen or what the path will look like as it gets from here ($560ish) to there. This is the subject of the article I published for iMore.com yesterday, which you can read here.
I was a sell side analyst for almost 11 years. I saw up close and personal how the industry is designed to focus in minutiae and short term irrelevant nonsense. But the real way to make money in stocks is to invest for the long term. Pick winners, let them ride, and ignore the short term nonsense.
Apple is still doing a great job. We’ve seen the stock go from $700 to below $400 back to $560(ish) and it’ll probably cross $700 and head to $1000 sometime in the next few years. I think it will be a market beater. I’ve owned it for a long time and never sweat the volatility.
Everyone on Wall Street likes to think they are smarter than the next guy at knowing when the market, or a particular stock will zig or zag. I couldn’t care less about that stuff. It’s the wrong prediction to focus on.
Stick to stories that matter over many years, not days or weeks.