AAPL tops $500 and Peter Boockvar gets it wrong. In today’s Wall Street Journal Market Beat blog there is a short article about Apple stock hitting $523.76. Mr. Boockvar says, “…Apple’s stock has gone parabolic. And, parabolic moves always end one way, back to the place where the parabolic move began. …”
Wow. Did someone pay him for that bit of incisive — and completely incorrect — analysis? Even under the incredible mismanagement of the current administration, the U.S. economy has continued to grow. Tell us, Peter, when does that “parabola” return to its point of origin? I know several people who bought AAPL at the equivalent of $1 per share, maybe less. I hope Mr. Boockvar is not suggesting that the parabola will return to that point. Highly doubtful.