Apple (NASDAQ:AAPL) bears are in hog heaven. The stock is in the middle of a deep pullback. Important technical ares of support are now broken. Tim Cook can be easily second-guessed because Steve Jobs is gone.
But hold up. While the Apple bears are dancing, a much bigger macro story indicates Apple is as dominant as ever — and continuing to strengthen it’s position in the market place. The case is super simple to see:
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1) Dell’s (NASDAQ:DELL) earnings signal a company in deep trouble. Earnings fell into the crapper by 47% as PC sales fell off a cliff and many other business divisions showed scary levels of weakness. Looks like the iPhone is continuing to convert more PC users into Mac and iPad users.
2) Hewlett-Packard’s (NYSE:HPQ) fumbles signal another top Apple competitor showing worrisome signs. Meg Whitman has talked to every brilliant person in Silicon Valley and seemingly no one knows how to stop HP’s stock crash (down 50% in 52-weeks). Surprised? Not if you’ve noticed how many HP products are out in the wild compared to Apple’s.
3) Research in Motion (NASDAQ:RIMM) is all but a dated moment in time between basic mobile phones and smartphones. They have so many mainstream blunders we don’t even need to review them here.
You are witnessing the real-time Darwinian destruction of Apple’s prey. Here’s the stock charts in comparison:
Yes, Apple’s stock may be in a short-term downtrend. However, if you are an Apple bear you must look at the evidence above and ask yourself a very important question: with a price earnings ratio between 12 and 13, how low can the industry destroyer really go?
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