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As Apple Gaps Up To Nearly $600/Share, Dan Loeb Rejoices

Tyler Durden's picture




 

Two weeks ago we first reported that Dan Loeb was the latest entrant into the Apple hedge fund hotel, which at last estimation has now risen to nearly 250 hedge fund holders in the name, having made the company a top 5 position in his hedge fund Third Point at some point during the month of February. According to his latest monthly update, Apple is now the second best performer for Third Point, having been held at most 45 days. And considering that the vortex of Hotel Applefornia is now actively snaring every single "asset manager" starving to outperform the market, it is very likely that today's latest gap up in the name, is about to take out $600 as the company proceeds to add many more billions in market cap as somehow the launch of a pipeline of products that was known a year ago, is priced in over and over and over each and every day.

Latest from Dan Loeb, for whom Apple is working while Yahoo, not so much:

Gap up, up, up.

 

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Thu, 03/15/2012 - 09:13 | 2257292 LawsofPhysics
LawsofPhysics's picture

Pssst.   Buy low and sell high. Not the other way around.  It really is that simple folks, now place your bets.

Thu, 03/15/2012 - 09:20 | 2257322 resurger
resurger's picture

i still think AAPL at 600 is still cheap!!! It should go to $2,000 by the end of thea year

 

Thu, 03/15/2012 - 09:25 | 2257345 LawsofPhysics
LawsofPhysics's picture

Like I said, place your bets.  I think it will run a bit longer depending on when/if they offer to pay dividends.  Just trying to see how they will justify paying investors while their manufacturing base is committing suicide at their factories.  Oh well, truth is always stranger than fiction.

Thu, 03/15/2012 - 09:26 | 2257351 jus_lite_reading
jus_lite_reading's picture

I'll see your $2k and raise you $30k... on QEinfinity $7 Quadrillion of course!!! All hail inflation! The WEALTH maker!

Thu, 03/15/2012 - 09:29 | 2257369 Fedaykinx
Fedaykinx's picture

aapl to eleventy million next month and the iphone5 is going to dispense electrolytes.  oh and i heard one of the projects steve jobs left behind was a dildozer ap.

Thu, 03/15/2012 - 09:34 | 2257392 jus_lite_reading
jus_lite_reading's picture

Don't forget the six panoramic, 25 megapixel cameras that record your every move and post them on Fedbook and Twibber automatically... for the iPhone 6 prototype which will accidentally on purpose be left on a restaurant's table so the hype can begin!! GOTTA GETS ME THE NEWEST iPHONE!!!

Thu, 03/15/2012 - 09:53 | 2257381 TruthInSunshine
TruthInSunshine's picture

Hedge Fund Hotel

by Leonard & Abby Joseph Cohen

Ode to LTCM, Buffett, AIG, Madoff, Hank Paulson, Geithner, the Squid, JPM & cnBSc Money Honies


I remember you well in that Hedge Fund Hotel
Cramer Berkowitz was famous, LTCM was a legend.
They told the sheep that they were staffed with brilliant men
but in reality they cooked up flawed Al Gore-Rhythms.

And clearing the decks of the leveraged paper wealth of ones like us
who are oppressed by the snake oil of sell-side,
the sheeple fixed themselves, bleating "well never mind,
we are wiped out now, but Greenspan will soon pump more bubbles."

I remember you well in the Hedge Fund Hotel,
you were talking such shit about QE,
Becky B. Quick giving h**d to Buffett on the unmade bed [and Carl Quintanilla blowing Sir Sanford],
while the limousines waited in the street.

Madoff & Corzine were the reasons and that was New York,
they were running for the money and the flesh.
That was called love for the the victims of pikers like Crames & Blodget,
probably still is for the handful of them left.

Ah but you got away, didn't you NASDapple,
you turned your back on the crowded trade,
you got away, I never once heard you say,
these Winners of the New World bullshit is the top, bitchez.
Hank Paulson needs Goldman, Obama needs JPM
and Bernank jiving around with Virtuous Circles.

And then you got whacked, didn't you sheeple, muppets & taxpayers?

J. Dimon & Lloyd Blankfein don't think of you that often.

Thu, 03/15/2012 - 09:34 | 2257394 Moneyswirth
Moneyswirth's picture

Put it all on black

Thu, 03/15/2012 - 09:54 | 2257494 mirac
mirac's picture

200 by year end would be my call...it's going to be a very bad year for all stocks in general, possibly starting next week...

Thu, 03/15/2012 - 09:29 | 2257373 Jim in MN
Jim in MN's picture

 

 

iFacepalm

Thu, 03/15/2012 - 09:34 | 2257397 BLOTTO
BLOTTO's picture

Wait till Apple comes out with a device that plugs right into your fuckin MELON.

iMELON

Just sit back - and stick a plug right in the back of the cranium... and just absorb the useless shit.

David Morgan says that those RFID chips require silver - and their will be billions made...

Thu, 03/15/2012 - 09:44 | 2257440 Jim in MN
Jim in MN's picture

Larry Niven was all over that in Ringworld.  The tasp is a wire that directly stimulates the pleasure center.  Very debilitating addiction.

If Steve Jobs left that lying around then it's AAPL to $10K. 

Thu, 03/15/2012 - 09:13 | 2257293 The Axe
The Axe's picture

The run in AAPL is not over   Even the dividend fund guys are buying before they "declare"   only when AAPl  "if"  declares a dividend...will it rollover.....then   I am going to short it on THAT day........BOOM!!!

Thu, 03/15/2012 - 09:13 | 2257294 Stanwick
Stanwick's picture

Priced in Apple, gold is ripping

Thu, 03/15/2012 - 09:17 | 2257311 kaa1016
kaa1016's picture

That's great....

Thu, 03/15/2012 - 09:24 | 2257341 withnmeans
withnmeans's picture

And in another note, Greece is still hurting, the new unemployment numbers are out. Q4 at 20.7pct. The rest of Europe is traveling downwards while we enjoy our ipad lives......

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_15/03/2012_433047

Thu, 03/15/2012 - 09:15 | 2257301 CvlDobd
CvlDobd's picture

AAPL bulls better hope ARMH gets going or else last quarter may be proven to be the "Steve Jobs Memorial" quarter.

If they are truly shipping shit tons of iPads I would expect ARMH to be along for the ride up and so far it isn't. Apple is still a quality company but this move is getting scary.

Something stinks.

Thu, 03/15/2012 - 09:27 | 2257357 LawsofPhysics
LawsofPhysics's picture

"Something stinks." - Yes and I suspect that it can be summarized in two words, input costs.  Another two words might be margin compression.

Thu, 03/15/2012 - 09:16 | 2257306 oogs66
oogs66's picture

How did all these stock guys miss it at 400???

Thu, 03/15/2012 - 09:18 | 2257313 Seasmoke
Seasmoke's picture

and to think i owned 1000 shares in 2001 @ $35

Thu, 03/15/2012 - 09:20 | 2257325 Fedaykinx
Fedaykinx's picture

i nibbled a little at 60ish back in '06 and rode her a little, i shoulda put fitty grand in that mofo i'd be ready to cash out right around... now.  who am i kidding though, i wouldn't have held it this long anyway.

Thu, 03/15/2012 - 09:18 | 2257314 Global Hunter
Global Hunter's picture

It is your patriotic duty to buy AAPL, be a good american and don't question anything there there doesn't that feel better.

Thu, 03/15/2012 - 09:30 | 2257378 SheepDog-One
SheepDog-One's picture

Yea! Someone with $10,000 can buy a whole 6 Apple shares, and be set for life! 

Thu, 03/15/2012 - 09:18 | 2257319 Fedaykinx
Fedaykinx's picture

jeebus trying to short that thing is dangerous but when that sucker goes it's going to be magnificent.

Thu, 03/15/2012 - 09:19 | 2257321 lizzy36
lizzy36's picture

Why anyone pays for 2/20 in this enviroment is beyond me.

When this goes bad....and it will, it always does, i hope everyone who clamours to be with a brand name HF manager gets their ass kicked.

Thu, 03/15/2012 - 09:47 | 2257452 marathonman
marathonman's picture

All those HF's and mutual funds cross-linked by Apple.  What could go wrong?

Thu, 03/15/2012 - 09:20 | 2257326 VelvetHog
VelvetHog's picture

What none of us realize is that AAPL is now seen as TBTF (wink, wink) by those that matter.  There is no downside risk in this stock.  BUY BUY BUY!!!!

Thu, 03/15/2012 - 09:22 | 2257327 SheepDog-One
SheepDog-One's picture

Almost $300/share run up in just a matter of weeks...i wouldnt touch it myself this is crazy...I dont do 'manias'. 

And if all these fund mgrs are so smart then why the hell didnt they buy it at $300?

Thu, 03/15/2012 - 09:21 | 2257329 Sophist Economicus
Sophist Economicus's picture

You used to have to live a lifetime to see these kinds of blow-off tops, now it seems like there's one every year or two.   This is gonna be one for the history books

Thu, 03/15/2012 - 09:24 | 2257342 SheepDog-One
SheepDog-One's picture

Will the FED now have to forget stocks and bonds and become Apple centric? If Apple drops $50 will the FED step in and QE it? Hey mom, are we at Full Retardville yet?

Thu, 03/15/2012 - 09:30 | 2257377 Fedaykinx
Fedaykinx's picture

roll up the windows and make sure the doors are locked, i think the answer is yes.

Thu, 03/15/2012 - 09:48 | 2257462 Vince Clortho
Vince Clortho's picture

Interesting point.

GM was tbtf with a smaller market cap.

Thu, 03/15/2012 - 10:19 | 2257609 Fedaykinx
Fedaykinx's picture

they don't have the uaw at foxconn though

Thu, 03/15/2012 - 09:25 | 2257337 Quintus
Quintus's picture

Where are all the top callers on CNBC denouncing this exponential move higher as a bubble that is bound to burst?  Where are all the talking heads worrying that everyone is on the same side of the trade and that Apple is attracting too much publicity and sucking in innocent mom-and-pop investors?

Where are the analysts writing essays about how this is JUST LIKE the tech stock euphoria in 2000 and how everyone who invested then is still in the red because we all know how that turned out?

I guess there can never be a bubble in stocks.  All the same, there's some long buried memory niggling at the back of my mind 'Dot something or other'.

Come on sheeple - buy buy buy, this time it's different - honest!

Thu, 03/15/2012 - 09:25 | 2257347 Downtoolong
Downtoolong's picture

They're all starting to talk about $700 already. No shit, I just saw a report this morning.

Thu, 03/15/2012 - 09:40 | 2257429 TruthInSunshine
TruthInSunshine's picture

Top's not in until Cramer scrawls his price target on his knuckles

Thu, 03/15/2012 - 09:26 | 2257349 SheepDog-One
SheepDog-One's picture

Yep there is no such thing as an equity bubble ever, to the Wall St paid pumpers. 

Thu, 03/15/2012 - 09:29 | 2257371 jus_lite_reading
jus_lite_reading's picture

Stocks are disqualified from indexes once they become "extreme" in downward pricing... of course if AAPL went to $30k/share they would say it was healthy!

THE PROPAGANDA WARS HAVE BEGUN!!! PSYCHOLOGICAL WARFARE FOR THE CONSUMER'S MIND!! (It is an election year stupid!!) LMAO

Thu, 03/15/2012 - 09:27 | 2257360 monopoly
monopoly's picture

The only bubble is in gold. Right. On and on we go. I am out of the way when this whole thing goes poof. Just sitting.

Off topic, super article by Matt Taibbi on BAC in Rolling Stone. Scathing yet true report on how they make the Taliban look honest. Tyler might want to post that for us.

Thu, 03/15/2012 - 09:28 | 2257362 Jim in MN
Jim in MN's picture

My finest back in the day was 4Kids Entertainment (AKA 'the Pokemon stock'), $6 to $36 for a six-bagger.  But it blew off at $90 while I was holding for long term capital gain status.  I still have the New Yorker with Pikachu on the cover dragging a sack of cash past the other kids on Halloween.

After I got out it went to $10, hung around for years, now on the pink sheets.  Sad really, but plenty of company down there.

http://finance.yahoo.com/echarts?s=KIDEQ.PK+Interactive#chart1:symbol=ki...

 

Thu, 03/15/2012 - 09:31 | 2257368 Doomer
Doomer's picture

Go all-in short at 666.00? (Edit: Which may be tomorrow .... or later today!)

Thu, 03/15/2012 - 09:29 | 2257370 monopoly
monopoly's picture

How does anyone or any company buy that chart. Amazing.

Thu, 03/15/2012 - 09:29 | 2257374 Dr. Engali
Dr. Engali's picture

This is going to make one hell of a short if you can get the timing right.

Thu, 03/15/2012 - 09:50 | 2257467 a growing concern
a growing concern's picture

Attempt that at your own peril.  What if your foot gets caught on the track when you're trying to pick up all those pennies?

Thu, 03/15/2012 - 09:31 | 2257375 Yen Cross
Yen Cross's picture

 Shit AAPL should go buy all those empty gold mines in S.Africa, and fill em with (i-ventory) !  They can call them i-bunkers, and charge admission.

Thu, 03/15/2012 - 09:30 | 2257379 manhunter
manhunter's picture

QCOM, I mean AAPL to the moon!

Thu, 03/15/2012 - 09:41 | 2257431 Moneyswirth
Moneyswirth's picture

That's so 1999 man. 

Thu, 03/15/2012 - 09:31 | 2257382 SheepDog-One
SheepDog-One's picture

Now, lets see $600 cashed out. I think I hear crickets chirping. 

Thu, 03/15/2012 - 09:33 | 2257386 VisualCSharp
VisualCSharp's picture

This just proves at how stupid humanity really is. Greedy people just can't seem to learn their lesson and accept that which is sustainable. Instead, we see bubble after bubble as the entire investment world declares -- through Apple's stock price -- that Apple will never fail or make a mistake. It's that durn "greater fool" cliche again. I don't invest in the stock market. Instead, I invest in my own abilities and skillset. I invest in time with my family. I will never take the rollercoaster ride of stocks that so many here and elsewhere seem addicted to. I don't wake up every morning figuring out how I can screw over the next man, find the next bag holder or whether this is the time to short AAPL.

Remember ZeroHedge's motto, folks: on a long enough timeline, the survival rate for everyone drops to zero. Start acting like it and your lives may just improve. :)

Thu, 03/15/2012 - 09:47 | 2257455 SheepDog-One
SheepDog-One's picture

Humanity is just a hockey-helmeted moron chasing a greased beachball.

Thu, 03/15/2012 - 10:20 | 2257614 Fedaykinx
Fedaykinx's picture

+imagery

Thu, 03/15/2012 - 11:21 | 2257832 kahunabear
kahunabear's picture

...and all you're money won't another minute buy, all we are is dust in the wind.

Just ask Jobs.

Thu, 03/15/2012 - 09:33 | 2257388 lizzy36
lizzy36's picture

Slave labor "over there" really is the the solution.

#booyah

Thu, 03/15/2012 - 09:44 | 2257438 SheepDog-One
SheepDog-One's picture

Most Apple shareholders have a 'Free Tibet' bumper sticker on their Prius....such hypocrites.

Thu, 03/15/2012 - 09:34 | 2257393 Everybodys All ...
Everybodys All American's picture

AAPL is the NASDAQ ... and they will do everything to keep this up and going higher.

Thu, 03/15/2012 - 09:45 | 2257446 SheepDog-One
SheepDog-One's picture

Well every hedge fund out there has already piled all-in, now who else do they get to buy it higher?

Thu, 03/15/2012 - 09:36 | 2257405 TradingJoe
TradingJoe's picture

Apple is just 'nother hype and like all hypes it will "cool off" and when it does that it won't recover anymore! At some point the iPads and iPhones will have saturated the markets world wide...and then there will be another hype in something else...having unlimited buying power,(risk free"thanks FEDster OD Status" for an extended period:)), it's easy to buy anywhere, at any price! Pathetic, there was a time when traders were TRADERS now they all are HANDOUTS!

Thu, 03/15/2012 - 09:38 | 2257415 HD
HD's picture

Imagine the volume to the downside when every hedge fund heads for the exits at once...taking the NASDAQ with it.

Thu, 03/15/2012 - 09:56 | 2257510 jse111
jse111's picture

With APPL now 50% above its 200-day MA, one can only wonder if it is too late to get in.  (sarc)

Thu, 03/15/2012 - 10:05 | 2257554 HD
HD's picture

Well, not with my money - but if Ben is buying...

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