In a recent segment of Talking numbers, hosted by CNBC and Yahoo! Finance, Zachary Karabell, Envestnet’s head of global strategy and CNBC Contributor, and John Kosar of Asbury Research, shared their opinions and views of the recent Apple Inc. (NASDAQ:AAPL)’s share price reaching and surpassing of the psychological $100 per share, for the first time since September 2012. Apple Inc. (NASDAQ:AAPL) thus has a market capitalization of more than $600 billion, as its new version of iPhone 6 is soon arriving, with the announcement set up for September 9, possibly together with its completely new product – the iWatch.
Kosar was first to comment on Apple Inc. (NASDAQ:AAPL)’s stock, saying that he is bullish on the stock medium and long term, but that the price may be too expensive at the moment.
“[…] We’re up against a major resistance level at the old highs. I would be looking to buy some kind of a break here. The 50-day moving average is about 6 percent underneath the market at $94.75. […] I think that is the feasible,” John Kosar said.
Karabell said that he owns Apple Inc. (NASDAQ:AAPL)’s stock and jokingly “disclosed” also having the latest iPhone, switching to it after being a long-term BlackBerry Ltd (NASDAQ:BBRY) user. He warned that his opinion would be biased because of it, but went on to describe Apple Inc. (NASDAQ:AAPL) as inherent in a hardware business, even with the huge iTunes and the App store success. The company needs to keep creating “that next wave of product”, in order for it not to get commoditized, adding they are doing it very well.
“[…] I’m always a little wary of that next release. The 5s was fine, it was innovation, but it wasn’t amazing. How many releases can have that response before people turn somewhere else? I just think we need to constantly be on the lookout for that, because we have a franchise that’s incredibly powerful and simultaneously vulnerable,” Karabell added.