I wouldn't short it just yet, but it might be time to take some profits. Apple stock has everything going for it at the moment, but the price is getting out of hand.

By Bill_Fleckenstein Apr 5, 2012 4:54PM

Bill FleckensteinThe white-hot speculation in Apple (AAPL) shares continues to intensify. The price topped $600 a share briefly two weeks ago, ahead of the release of the new iPad, and regained that territory on the March 19 news the company would pay a dividend and buy back shares.

 

Quite frankly, since I have not been too interested in individual short positions (or non-money-printing-related long ideas), I haven't spent much time focusing on Apple. However, a recent question from a subscriber to FleckensteinCapital.com about what I thought the company might be worth caused me to examine it more closely.

 

Has Apple bitten off more than it can chew?

I am sort of embarrassed to admit how shocked I was to realize that Apple has gained almost 50% this year, and, of course -- given its heavy weighting -- that is a big reason the Nasdaq ($COMPX) has done as well as it has. And since the Nasdaq has been strong, Apple's momentum has probably spilled over to help boost the price of other shares as well.

 

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ABOUT BILL FLECKENSTEIN

Image: Bill Fleckenstein, MSN money

This column is a synopsis of Bill Fleckenstein's daily column on his website, FleckensteinCapital.com, which he's been writing on the Internet since 1996. Click here to find Fleckenstein's most recent articles.

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