Apple Inc. (NASDAQ:AAPL) crossed the $100 (split adjusted) mark recently and now trades comfortably above it. A lot of people had their eyes set on Apple Inc. (NASDAQ:AAPL) crossing the $100 mark, now that the stock has done so, should one book profit, buy more or continues to hold their positions? That was the topic of discussion between the FMHR traders on CNBC recently.
“[…] It does feel that it wants to go higher. People are talking about $110, but I am in the camp that if you have enjoyed this ride, which everybody should have done at this point, I would imagine. You take progits, there is nothing wrong with taking some of the profits off the table, quarter, half, three quarters and live to fight another day. Could it go to $110, yeah, but there is just an equal chance, if not greater that it does back and fill back then to the high 80s, especially if the tape doesn’t cooperate,” Guy Adami said.
Ryan Kelly agrred with Adami, he feels that the possible highs of Apple Inc. (NASDAQ:AAPL) stock could be 5 to 10% from here. He also disclosed that he had a short on Apple Inc. (NASDAQ:AAPL) which he covered while the stock was trading near $101 levels today. Steve Grasso feels that tech behemoths like Apple Inc. (NASDAQ:AAPL) are now a permanent holding in investors’ portfolios.
“I think these guys have to prove two things are not working, one is that the refresh cycle, they are totally missing out on what the consumer wants. I think, by going with larger screens, by starting to appeal to other parts of the world, by working with China, this is is, this is what they need to do,” Timothy Semour said.
Grasso added that things have changed since Apple Inc. (NASDAQ:AAPL) started trading above $100. According to him the stock has become much more attractive now and investors shouldn’t be selling it.