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$65 With A Bullet (8/29/99)
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Speaking of Seybold, it's not uncommon for a Steve Jobs keynote at any event to spark some higher trading of Apple's stock. So what'll happen on Tuesday after Steve announces whatever it is he's going to announce? AAPL has been on a rampage lately, with the most recent close at $64.75 last Friday. That climb followed yet another analyst upgrade, which seems to be the latest hip trend on Wall Street; this time, it was investment bank Warburg Dillon Read who upped its price target for Apple stock from $65 to $75-- within spitting distance of the highest it's been since 1986, according to a Yahoo chart. A MacWEEK article has the details.
So given the past history of Jobsian keynotes, whatever Steve pulls out of his, er, sleeve might just cause another AAPL spike, and on Tuesday or Wednesday we may see that stock trading as high as $70 or maybe even higher. That's optimistic, sure, but what can we say? We're glass-half-full kind of people. At the very worst, we figure the keynote will help stave off whatever losses may occur when those lucky sods that bought in the teens sell their holdings because they don't want to push their fabulous luck any further.
Now, the other possibility is that Apple's stock is so high because Wall Street is expecting great things at Seybold; it seems that more than a couple of people still think Jobs will unveil the new iMac, which we consider pretty unlikely a such a non-consumer event. But if Wall Street's expecting that and Apple doesn't deliver, we suppose it's possible that AAPL will actually take a significant dip. On the other hand, have we ever known Steve to disappoint? Not at any event where the whole world is watching. Our bet is that the master showman will introduce something that'll catch the attention of the average reporter, most likely some form of Power Mac G4. (Whatever it is, a Reuters article quotes Apple spokeswoman Rhona Hamilton as saying it's "major news.") And then where the stock goes, nobody knows...
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SceneLink (1747)
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And Now For A Word From Our Sponsors |
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 | | The above scene was taken from the 8/29/99 episode: August 29, 1999: Power Mac G4 specs and pricing make their way onto the 'net-- so are they real, or what? Meanwhile, Apple's stock continues its "meteoric rise" following another analyst upgrade and Seybold just days away, and Michael Dell (sort of) admits he was wrong by introducing an iMac-inspired consumer PC...
Other scenes from that episode: 1746: Spilling The Beans (8/29/99) Well, we sat on some "very interesting information" all weekend, concerned that we'd be the ones spoiling the potential surprise, but now that the exact same info has surfaced at Accelerate Your Mac, Think Secret, and various other virtual locations (and will likely spread faster than the Melissa virus), we figure we can probably discuss it with impunity... 1748: Taking It All Back (8/29/99) One thing about Michael Dell-- you won't see him stubbornly sticking to a public statement he once made if swallowing his pride will make more money for his company. The infamous statement to which we refer, of course, was his comment a couple of years ago that if he were running Apple, he'd "shut it down and give the money back to the stockholders."...
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