The market is up a bit today. Most strength came from commodity and high tech. If Chinese government's effort to cool down property market is successful, then, commodity will decline. Apply seems in a league of its own. The earnings are very impressive and the stock probably will shoot up tomorrow to 260. You have to give the credit to their product development and marketing power. But the law of large number will prevail in sometime. The market value of Apple is 250 billion. If it grows 30% every year as expected by some analyst, then in 10 years, it will be a 4 trillion dollar company and it is just impossible mathematically. Same as revenue growth. When the number reaches certain point, there is no way you can growth 30% annually. My guess is a p/e of 20 on forward earning would be a fair value which gives a 280 target in one year.
Closing value
Portfolio 1 (US): 114638
Portfolio 2 (C$): 82540
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