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A Fool Looks Back

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Apple (Nasdaq: AAPL  ) finally gave the market the iPhone 5 it wanted on Friday.

Even bears have to concede that this will be another record-breaker for the class act of Cupertino. Every generation of Apple's flagship device wins over a new breed of BlackBerry and feature-phone converts. Yes, Android may be mobile operating system for the masses, and that's not going to change anytime soon. However, there doesn't seem to be any realistic challenger to the iPhone as the brand that just happens to be making most of the industry's profit.

History will also remember that this was the week Apple broke through the $700 barrier. The high price doesn't necessarily mean the stock is expensive, though. Apple at $700 translates into just 13 times projected earnings for the new fiscal year that starts next week.

Take a bow, Apple. Now do something about clearing up those Apple Store lines so the rest of us can make our way to the mall's food court.

Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.

  • Deutsche Bank reports that Qihoo 360 (NYSE: QIHU  ) is once again gaining market share in China's search-engine market at Baidu's (Nasdaq: BIDU  ) expense, though it's not as bad as when Qihoo 360's engine peaked earlier this summer, when it was originally introduced. The search pie in China is growing nicely, but investors will still want to watch that trend.
  • Trulia (NYSE: TRLA  ) pulled off a successful IPO, closing 41% higher on its first day of trading on Thursday. Smith Electric, on the other hand, merely pulled its offering. The maker of electricity-powered trucks just didn't get the kind of investor support it was hoping for.
  • Herman Miller (Nasdaq: MLHR  ) took a hit after posting a dip in revenue and a larger-than-expected decline in profitability. It can't be a good sign for Corporate America when a maker of office furniture is retreating.

Moving on
A new premium report on Apple details the opportunities and challenges in store for its shareholders. It's also been updated to include new iPhone 5 details! Check it out now.

The Motley Fool owns shares of and Apple. Motley Fool newsletter services have recommended buying shares of Apple and and creating a bull call spread position in Apple. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Longtime Fool contributor Rick Munarriz calls them as he sees them. He owns no shares in any of the stocks in this story and is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Motley Fool has a disclosure policy.

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  • Report this Comment On September 22, 2012, at 12:12 PM, facevalue22 wrote:

    Trulia,41% up? Sure when did you have a chance to buy it opened around 21.00 to 22.00.Not 16 or 17 so I don't buy it. However it is a terrible stock to own so after everyone losses their money in a Facebook like fashion,you should be able to buy in around 10 bucks or so.

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